Prices are on the retreat again, and are set to fall further following a rebound in April. Support has been established at around 5.4 cents. Quarterly momentum is flat, but ADX has turned up and the DIs are negatively placed.
This indicates a price decline. Volume has contracted, but prices should still be able to fall on their own volition. The immediate support appears at the still-rising 100-day moving average at eight cents, but this is unlikely to hold. Resistance has been established at 11 cents.
Showing posts with label WE Hldgs. Show all posts
Showing posts with label WE Hldgs. Show all posts
Monday, May 6, 2013
Monday, March 18, 2013
We Holdings (Seven cents) - Short-term oversold
This counter has fallen from a high of 20.5 cents on an intra-day basis to just seven cents currently. Inevitably, a rebound is imminent. Resistance for this move is unlikely to go much beyond 10 cents, the level of a one-third retracement, and the 50-day moving average.
The downside is probably limited. The low of 5.4 cents made on March 12 may hold for now. A recovery is likely to be difficult.
Subscribe to:
Comments (Atom)