Losing steam?

BLOOM went past the 11.98 per share resistance but wasn’t able to sustain its strength. It closed at 11.8 per share leaving a bearish candlestick at the closing. At this point, its the bears that are in control and price may retrace if we will see a confirmation via long red candlestick tomorrow. The retrace is actually needed to loosen up RSI a bit.

If we look at its weekly chart, we could see a pull to 12.86 per share through Kijun Sen line. In case there will be no confirmation for the negative candlestick tomorrow then BLOOM will continue to rise to 12.98 per share. The Kijun Sen line has the tendency to attract price if it is moving horizontally.

Relative Strength Index or RSI is at 76 on daily chart.

Caveat!

One Response to Losing steam?

  1. sir can you do an analysis on dmpl?

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