Dark Cloud Cover on PX. Time to fall?

PX has gone up two days in a row before it registered a red closing today. After reaching intraday high of 8.90 per share, PX fell by 1.5% and close at 8.60 Will there be a rally tomorrow or PX will return to basement?

The candlestick pattern today is showing a Bearish Dark Cloud Cover. This pattern suggests that after the rallies, the bulls are exhausted and the bears is beginning to take position.

Notice that PX is developing a rectangle formation where we see the resistance and the support levels. Notice that everytime the RSI hits near 70 it drops. When it hits 30, it rises. Will this scenario continue?

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 Dark Cloud Cover on PX. Time to fall?

  1. Gan Belgado says:

    ganda e apply ang range trading d2, for sure perfect to make gains

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