Downtrend channel on the daily, Currently at the Mid Channel Zone. Trading Range 112-105. Above 112 it'll recover, below 105 downtrend continues. Target @105, Target 2 @ 101. Support on the 0.618Fib (105.88) above the 34 EMA. This level is key for a downtrend continuation. I expect a rebound on the 101 level since this is the 0.5Fib retracement level.
I don't see signs of recovery since the Price is trading already below the 13 EMA on the daily, and this has not happened since its IPO. The OB/OS says it didn't make it to the Overbought level and it's heading down, the Accumulation/Distribution says Distribution. So I see continuation to the downside.
I don't see signs of recovery since the Price is trading already below the 13 EMA on the daily, and this has not happened since its IPO. The OB/OS says it didn't make it to the Overbought level and it's heading down, the Accumulation/Distribution says Distribution. So I see continuation to the downside.
