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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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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