With the indicators (RSI, MACD and ROC) convincingly falling under their respective 3-month uptrend lines recently, they support our view that the downtrend momentum is building up and further correction in the weeks ahead is likely.
We expect the stock to find initial support at $0.84 (38.2 Fibonacci retracement), breaking which, the next support is likely at $0.75 (50% Fibonacci retracement)
Immediate resistance is pegged at $0.95, ahead of $1.14 (2009 high).
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