Standard Chartered stock (LSE:STAN) is an example of a strong, bullish market. Against all odds, price has been engaged in consistent bullish movements, since May 2022. The stock was also bullish in January and February 2022; while march and April saw flat movements.
4 EMAs are used for this analysis and they are EMAs 10, 20, 50, and 200. The color that stands for each EMA is shown at the top left part of the chart.
Each EMA is sloping upwards, supporting the current bullish bias on the market. Any retracements towards the EMA 10 or 20 would bring renewed opportunities to go long.
The outlook on STAN is bullish for this year, and price can reach the supply levels at 650.00, 700.00 and 750.00 respectively.
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