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!

Leave a Reply