BLOOM is at the mercy of its support

Weekly: BLOOM maintained its Weak Bullish Signal we saw 3 weeks ago as Tenkan Sen cross over Kijun Sen that time. But we don’t see any signal yet from other elements of Ichimoku although Fibonacci Retracement level is trying to support BLOOM not to go down any further.

Daily: Daily chart shows that it has slipped from the support line but Fibonacci Retracement level at 78.6% is holding the price not to fall further. If price will bounce from here then we might see a weak bullish signal with confirmation from Chikou Span. That is, if it will move up. If it will fall below this level then bearish sentiment will be worsen and next support might be very low. Wait for the signal before entering.

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.

One Response to BLOOM is at the mercy of its support

  1. […] week we have seen Bloom at the mercy of its support unfortunately today the support wasn’t able to hold and price pierced through it as it fell […]

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