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Support/Resistance:Not much changes as compared to last two weeks. Double top pattern has formed and currently it may be forming the bear flag pattern. If the bear flag pattern is formed, there might be a chance to test the $12.00 major support. If the chart is able to hold and bound at the lower line of the major uptrend, there might be a chance to test the $15 major resistance.
Indicators:
Looking at the MACD, RSI and Stochastic, these three indicators have going down. Please note the there are a lot of sell volume during last few week. There might be a lack of buying momentum, so be careful if you are buying now.
My Target Price:
Target buy price will be $12.00.
Please note that I am using TA to position myself for long term investing and not to predict the direction of the market.
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