UnknownUnicorn25462132

Graincorp - Upside Tendency following 7 Consecutive Down Days

Long
ASX:GNC   GRAINCORP LIMITED
Friday marked the 7th consecutive down day for Graincorp Ltd. Interestingly, last week, Morgan Stanley downgraded GNC from overweight to equal-weight. However, this 7-day losing streak has failed to take the price below the 200-day moving average. Similar types of pullbacks above the 200-day moving average have usually manifested to the upside, with an average 9-day gain of 4.2% & a win rate of 7 from 8.

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