MARC’s support still holding

After falling hard last April 25, MARC was able to climb to its support immediately at 4.22 and it has been consolidating since then while support is holding. Kijun Sen and Tenkan Sen lines are moving horizontally at 4.53 which may attract the price but at the same time may resist price from crossing it.

Based on Ichimoku system, MARC is still in a bullish mood with all elements in green light. The big gap is a good reason why some traders are still holding their MARC shares but if 4.22 will not hold, we might see MARC to hit 3.96 per share. This time Chikou Span will also register a bearish signal so it is very important to monitor the support line.

RSI or Relative Strength Index is currently at 40

Caveat!

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