Indecision on BKD after the fall. Will it bounce?

BKD seems to have found support at the Kumo or Cloud. With RSI or Relative Strength Index at oversold level, will it now bounce? I think the critical level here is 2.0 or the 38.2% Fibonacci Retracement level. If price will close below this level then it may continue to fall otherwise BKD will bounce and hit first resistance at 2.24 per share or even seal the gap. I think buying near 2.0 is good.

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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