DNL showing bearish signals

DNL has changed course as it fell and broke down from the Kumo. This action suggests bearish sentiment. In addition we also have our Tenkan Sen / Kijun Sen Cross from above which is considered weak bearish signal. Lastly, our Chikou Span has shown bearish signal since two days ago.

Although RSI or Relative Strength Index is going down, it is still not at oversold level.

Price may find support at 6.40 or the 78.6% Fibonacci Retracement level as shown on our chart.

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 DNL showing bearish signals

  1. […] is still moving downward since the last time we saw DNL showing bearish signals. No changes in our support level as of this time but if 78.6% Fibonacci Retracement level or 6.4 […]

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