Why this stock makes a huge movement

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Supply@me Capital Plc stock (LSE:SYME) has made a really huge movement. Price broke out massively in late July 2022, and that momentum has been sustained till now.

Apart from the bearishness that was witnessed in May and April 2022, the market was quite choppy till the end of July 2022, when the aforementioned bullish breakout occurred. The bullish breakout was so significant to the extent that the long-term sideways movement was ended quickly as major bias turns bullish.

Price is now above the EMA 21, and the William’s % Range period 20 is in the overbought region. The bullishness in the market is very strong, and that bullishness is supposed to continue despite occasional southward retracements in William’s % Range.

The outlook on SYME is bullish and price could reach the supply areas around 0.15, 0.16 and 0.17.

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