Technical Analysis: The long term chart for the stock is pretty negative, the price has broken below a major monthly support, completing multiple bearish patterns, a head and shoulders top followed by the minor double top formation,
The medium term outlook(months) for the share is dimmed, Shorting on any pullback towards the broken support area is favored, where am looking for an initial target at the main rising trend line shown on chart. Note that this is a logarithmic scale
Happy Trading :)
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My best regards,
Technician
The medium term outlook(months) for the share is dimmed, Shorting on any pullback towards the broken support area is favored, where am looking for an initial target at the main rising trend line shown on chart. Note that this is a logarithmic scale
Happy Trading :)
Join me at twitter.com/thefxchannel
Facebook page www.thefxchannel.com
Google Plus : plus.google.com/+Thefxchannel0/posts
My best regards,
Technician
