An inverted hammer was formed last week, it was with GAP, and the candle formed a long shadow, meaning buyers were aggressive and raised the price to a higher level, but sellers took control on the last day of the week. From a technical point of view, it can be said that the price has a chance to rise, because according to the stochastic indicator the fastest K is 2.14 and the shortest is 3.09. Also, if a stochastic crossover forms this week or next, which could be a serious signal to take a step. So the price has dropped and now this stocks have a good price level which can be attractive to the buyers.
In line with the downward trend, the expected price may fall to 8.30 or even 7.50, as such a price was only maintained in 2011. And that’s the old level of support. Previously, this price level was February this year, but that week the price just jumped during the week. So the price doesn’t have a new support level.
But better wait a week or two and see what happens.
In line with the downward trend, the expected price may fall to 8.30 or even 7.50, as such a price was only maintained in 2011. And that’s the old level of support. Previously, this price level was February this year, but that week the price just jumped during the week. So the price doesn’t have a new support level.
But better wait a week or two and see what happens.
This Monday (01.11) price open little bit lower then last week. So Monday formed GAP but this GAP was close and price rise 1.19$ until today and if today price goes up more then 0.06$ then will form Engulfing Pattern which is strong bullish signal. Plus stochastic crossover is formed and that is second bottom signal.