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Support/Resistance: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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