BLOOM broke the resistance. Registered new support.

So far bloom is not giving up. Today it registered a 3.9% change to close at 9.92 per share. Our resistance at 9.88 has been broken and looking at the weekly chart, the Doji candlestick has not been confirmed although we still have 3 more trading days before we can really see the final candlestick of the weekly chart. In case it will not be confirmed then there is a possibility of it going to 12.62 where the flat Senkou Span of our Kumo is.

Going back to the daily chart, Kijun Sen line has bent upwards telling us that the threat of BLOOM is gone at this time. Still it is not advisable to relax since we know that the newly found support is not that strong and RSI or Relative Strength Index has also gone up and is near overbought level.

Caveat!

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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.

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