Posts
See it for yourself and make your own judgement.
Support/Resistance:
Not much different my last analysis. There is an obvious double top formation currently. In my opinion it is very bearish as the volume of the second top is much higher than the first top. I also mentioned in my last analysis that $2.01 is the first major support at the moment, and bear flag might be forming now. I am waiting for the chart to break the support at $2.01.
Indicators:
For MACD, RSI and Stochastic, these three indicators are going down, which is another bearish sign.
My Target Price:
I will be waiting for $1.70 to buy in some lots. In my opinion, this is still a very good stock with strong fundamental, but I am not buying at the current price. If the price never reaches $1.70, I will not buy at all.
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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