The stock has recently bounced off its 200-day moving average, and is currently testing the lower boundary of a descending triangle pattern. If the stock manages to break through resistance and close above 15.60, this could signal a continuation of the bullish trend. Conversely, if the stock fails to break through and encounters resistance around 15, this could indicate a bearish reversal.
Comment:
Clearly the stock is bearish. Need to see if it will find support around 200-Day MA. If not it will be entering stage 4 downtrend.
