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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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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