Is it going to break the support?

Bloomberry

Weekly chart: shows that the support at 78.6% Fibonacci Retracement level is holding so far. Bloom went down as low as 9.56 but was able to close at 9.90 per share which is just within the support area. Will the bulls be able to bring the price up towards 11.16 per share or it will continue to plummet? Buy around support area 9.5x – 9.89 but prepare for a 8.28 plummet in case BLOOM will turn sour.

Relative Strength Index or RSI is at 35.2

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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