Forward MARCh

MARC continue to move upward. This week it move up by 11% and staying above 3.80 which was our previous resistance. This line is now our support. MARC may head up to 127.2% Fibonacci Retracement level which is around 4.46 per share but if we based it on the projection of the cup and handle, it seems MARC is going to hit 161.8% Fibonacci Retracement level and above.

Current RSI or Relative Strength Index is already at the overbought level. We are anticipating a correction after it hit the immediate resistance. All Ichimoku elements are in a bullish position.

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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