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.

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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