BLOOM may continue to retrace due to power of Kijun Sen

After the rise to 10.16 per share, BLOOM is currently facing a headwind. Currently moving near the support area at 23.6% Fibonacci Retracement level but the support may give way because of the pulling force from flat Kumo and Kijun Sen line. These two Ichimoku elements may attract the price to move down near 9.29 – 9.22

Ichimoku elements are still in bullish mood so this correction is considered healthy unless we will see a bearish signal from any of the elements. For those who would like to buy/add more shares, wait a little longer for the signal. Maybe the price and the Kijun Sen line will meet somewhere near 9.44 per share.

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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