Bearish technicals. Strong resistance overhead & RSI double top

NYSE:CRS   Carpenter Technology Corporation
Strong overhead resistance has formed from the down-trending channel that begun in August 2014. There is also a fib retracement level @ 41.38 which the price has also recently respected, giving weight to its significance. The RSI has also topped out at a level consistent with the previous high made in late February 2015. Volume is falling as buying interest wanes after the recent rebound off the near record lows made in April 2015.


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