NI still finding support. Is it near its bottom?

Last March 6 we ask how deep is NI’s correction will be and it seems it haven’t found its bottom yet. Kijun Sen line is still moving horizontally at 2.59 which may attract the price. Immediate support at 2.71 or 38.2% Fibonacci Retracement level.

Based on the candlestick formation, we don’t see any bullish reversal pattern yet but I think it is now time we need to put this stock on our watch list. Due to its decline from 3.09 the RSI or Relative Strength Index is has been declining as well and is approaching oversold level.

Caveat!

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