FGEN’s dip may be a healthy correction

FGEN is currently at its support level but so far bearish bias is still great. The flat Senkou Span B of the Kumo and the Kijun Sen line moving horizontally at 14.51 may cause the price to be attracted and come near this line. Without any bullish candlestick formation, the chance of FGEN going downward is quite high.

Still the upward trend from its low of 12.20 is still intact with Chikou Span, Kijun Sen and Tenkan Sen lines still in a bullish formation. Any dip should be considered a healthy correction.

Caveat!

Leave a Reply