The Level Is Clear For Naked Brands Stock

In financial markets, certain price levels are more important than others. These levels are called resistance or support.

At resistance levels, there is a large concentration of sellers. This is why rallies end when they reach them. At support levels the opposite is true. There is a large concentration of buyers. Sell-offs end when they reach support.

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The 50-cent level has been support for Naked Brand Group Limited NAKD since April. Traders need to watch this closely.

If this level breaks, it means the buyers who created the support have either finished or canceled their orders. They won’t be holding the stock up anymore. This means a new downtrend could form.