Posts
See it for yourself and make your own judgement.Support/Resistance:
The chart has formed a double top pattern at around $4.45. After the double top or "M" pattern, it has formed a bear flag and fall again at around $3.50. Currently there is no confirmation of further sell down. If sell down continues, it may fall to next major support at $2.70. If the major support at $3.50 is held successfully, it may go up to test the major resistance again at around $4.40.
Indicators:
Looking at the MACD, RSI and Stochastic, these three indicators show a lack of buying momentum. It may be good to start accumulate at this level.
My Target Price:
My target buy price will be $2.70.
Please note that I am using TA to position myself for long term investing and not to predict the direction of the market.
No comments:
Post a Comment