A2 Milk retraces back to the trend line support today. This is NOT a buying opportunity for me because the risk is greater than the reward. We could open below the trendline next week and going down fast. Also, there is a gap on the chart that is yet to be fill.
If we could close above $15.68 area, I may consider a long position in A2 Milk.
A2 Milk appears to have lost to the bears.
A very distinct head and shoulders pattern has emerged although still not confirmed until neck line is broken.
Taking a look at the relative strength, A2M is under performing the ASX 200 (XJO) which also is a strong bearish sign.
Increased volume on negative candles and on right shoulder shows strong possibility of break...