BEL clings to Kumo

Looks like BEL found a good support at the top of the Kumo. It fell as low as 5.18 per share but was able to recover its loss and clos at 5.26 per share with 0.2 percent change from previous close. Notice that the Kijun Sen line has bent upward. A long green candlestick this week may drive the price up again. There is also a tendency we will see some small candlesticks before that will happen. As long as there will be no Kijun Sen cross then we are good to go.

The fall from the recent high pull the RSI or Relative Strength Index to 48.

Caveat!

The following two tabs change content below.

felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

Leave a Reply

}