Doji in BLOOM after the 3-week rally
After few weeks of moving horizontally at 10.31, the Kijun Sen line of BLOOM has finally bent downwards which means the power of this line to attract the price is not anymore strong. Notice also that there is a Descending Triangle being developed and price could continue moving inside this triangle if the Doji candlestick will be confirmed. This Doji candlestick is a result of the bulls and bears in equilibrium after the rally. There is now some hesitation for the bulls to bring the price further up. If we will see a long red candlestick at the end of this week there is a bigger chance BLOOM will go back to its support level. If unconfirmed then we are still on our way to 12.62
Monitor this stock and act accordingly.
More from my site
Latest posts by felix (see all)
- Philippine Stock Market – Update on selected stocks 4/21/2017 - April 23, 2017
- Philippine Stock Market – Update on selected stocks 3/31/2017 - April 1, 2017
- Philippine Stock Market – Update on selected stocks 3/17/2017 - March 19, 2017