ROX heading for the resistance. Kijun Sen may attract the price.

ROX may have bottomed out at 5.52 or near the 38.2% Fibonacci Retracement level and may bounce to 6.27 per share. From there it may try to break the resistance. Previous break was not sustained as we saw price went down after staying above it for two days. Will it be a different story this time? We notice also that on weekly chart, ROX is moving inside the upward channel where current it is at the lower slope.

RSI or Relative Strength Index is at 42 which is still very much healthy.

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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