EMP drops more. Now sitting on Kumo

EMP broke another Fibonacci Retracement level today as it drop to 10.50 per share. While price is approaching the 38.2% Fibonacci Retracement level, we might see a help from the Kumo. At this point in time we don’t have any reversal pattern from our candlesticks but if we will have it tomorrow then there is a greater chance it will bounce. Let’s wait for the reversal pattern before test buy. Let us also monitor the Tenkan Sen and Kijun Sen. In case it will cross then we will have a strong bullish signal. Don’t get in if there is no green signal.

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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