This counter has had a nine-month respite from selling pressures, but it is building up. Quarterly momentum has clearly moved below its equilibrium line into negative territory, suggesting that the price decline is set to pick up momentum.
Immediate support is at the $1.58-to-1.60 range, which is also a breakdown level. A breakdown is imminent, and a target of $1 is indicated from the breakdown. Prices have already fallen below the three medium- and long-term moving averages, which will now exert downward pressure and prevent a rebound.
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