Dark Cloud Cover on PNB

PNB has shown some bearish sentiment today as it drop by 1.82% forming a Bearish Dark Cloud Cover. Before today’s trading, PNB’s RSI or Relative Strength Index has already reach 83 and while it retraced today it is still at overbought level. Will this continue to fall knowing we have the bearish candlestick? We have seen PNB rallied for two trading days and earlier today we thought bulls will still reign but it was the bears who won at the closing. If this bearish sentiment will be confirmed tomorrow then we might see price come near our Kijun Sen which will act as our support.

So far, from Ichimoku point of view, the stock is still bullish. The fall might be just a headwind but just to be sure, monitor this stock.

Caveat!

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