ROCK moving slowly, targeting Kijun Sen line

The lowest 1.45/share of ROCK last December was a 161.8% Fibonacci Retracement when it was at 1.68/share and rallied to 2.04/share. ROCK is slowly moving up this time and is currently at 1.59 which corresponds to 23.6% Fibonacci Retracement level. The weak bullish signals we saw on our Tenkan Sen and Kijun Sen lines might be followed by bullish signal coming from Chikou Span. This will be a good development for a stock like ROCK that has been battered by the bears.

Notice that our weekly chart shows Kijun Sen moving horizontally at 1.9 If this will be hit then there is a bigger chance we will see ROCK at 2.20

Monitor the indicators and act accordingly.

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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