MWIDE’s flight delayed, need some repairs

MWIDE’s flight to the resistance slope has been delayed as Kijun Sen line trying to pull the price down at 12.40 per share. As of now the upward channel we are creating is still premature but if we will see a bounce at Kijun Sen line and on the lower slope then we might see MWIDE to hit the 50% Fibonacci Retracement level which is also where the flat Kumo is. But don’t be too eager to get in. Let’s wait for a bullish candlestick pattern to appear at support level before testing the water.

Ichimoku elements are all in bullish setup although considered weak because the price is still moving below the Kumo or cloud.

RSI or Relative Strength Index is at 51

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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