After the Break of the multiple tested supportlevel@ 9, 5CAD the stock gained downdynamic - the obligatory retest of this Breakoutlevel last week initiated an acceleration of the downmove. But where will this downmove end?
Yesterday we not only kissed the EMA 200 - we closed below it! This is a very negativ technical signal in the midterm/longterm view.
The RSI dived into the oversold Level, so we could exspect that we could see a countermove perhaps these days.
If we could not recapture the EMA 200, a dip down to the next supportlevel @ 7,3-7,6 (formed of former Highs and Lows) should be exspected.
Only trading above 9,5 CAD will brighten the Chart!
Yesterday we not only kissed the EMA 200 - we closed below it! This is a very negativ technical signal in the midterm/longterm view.
The RSI dived into the oversold Level, so we could exspect that we could see a countermove perhaps these days.
If we could not recapture the EMA 200, a dip down to the next supportlevel @ 7,3-7,6 (formed of former Highs and Lows) should be exspected.
Only trading above 9,5 CAD will brighten the Chart!
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sad..but not really surprising
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is this a H&S?
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Here is the exspected Countermove...the RSI is confirming the buying Signal.