Any immediate rebound is likely to be temporary and a reaction to short-term oversold readings. Overall, downward momentum is evident, particularly after the break below the three-times-tested $9.85 to $9.90 support level, which has weakened the chart pattern substantially.
Quarterly momentum has just breached its equilibrium line, a support and its own moving average. The breakdown indicates a target of $9, which appears attainable. At this level, both short- and medium-term indicators would be sufficiently oversold to trigger a more meaningful rebound.
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