GTCAP hitting the support. Will it bounce?

Looks like GTCAP has found support from the Kijun Sen and the lower slope. The drop of GTCAP started when we saw the Shooting Star last October. From 899 it is now trading at 833 per share but looks like it is hitting the bottom.

Based on Ichimoku system, GTCAP’s uptrend is still intact with Tenkan Sen moving above the Kijun Sen and Chikou Span telling us that price 26 periods ago is below the current price. A test buy would be ok tomorrow but keep monitoring in case price will close below the Kijun Sen since it means our support has been broken and weak bearish signal has turned on.

RSI or Relative Strength Index is in between oversold and overbought level and is about to point upwards.

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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