19.04.2015 - Ferrexpo will likely continue to decline
The price of shares of Ferrexpo has broken through the lower boundary of the rising local channel after failing to overcome the upper limit of the long-term descending channel. In order to change negative trend quotations need to break through to gain a foothold above the resistance level at 60.00. On the other hand, fixing the price of shares below the support level at 65.75, will confirm a sell signal with a target at 47.00. We recommend to wait for confirmation to open short positions and forecast decline of the price in the near future.