Will Elecosoft PLC Cope With The Resistance Zone?
Elecosoft PLC created an all-time high in October 2007 at a price of £1.14, then made a low of £0.06p in December 2011 which is a big drop.
At the moment price looks strong as it heads up making higher highs and higher lows. Although it looks strong now, the uptrend could find some difficulty advancing any higher at the consisting of the £1.00 round number and the all-time high.
Price does not show any signs of slowing down and may prove to be stronger than the standing in its way. If this proves to be true then we may see price smash through the then go on to make new all-time highs.
More updates to follow…
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