3 years ago

XRO Double bottom

The  Xero Limited (XRO) provides a platform for online accounting and business services to small businesses. XRO delivers application software for small business owner and accountants & bookkeepers. XRO has offices in New Zealand, Australia, UK and USA.

Picking lows is a dangerous occupation, however XRO has displayed a small double bottom at $11.94, with Fridays candle a “turning point candle” and an “outside range”. This can lead to a higher probability support level in place now that a trading range has been established with resistance  showing at $13.24, the last traded price of $12.70. Any trade has a HARD STOP at $11.92.