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!

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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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