ROXAS HOLDINGS

After ROX rally to as high as 7.5 per share from 2.58, it has retraced and moved sideways at 38.2% Fibonacci Retracement level. This level has been a very important support for ROX so far but there are also forces that makes it difficult for it to rise. Recently we have our Kijun Sen moving in a horizontal line at 5.77 where in the price has been attracted.

For those who would like to get some ROX, you may test buy at this level down to the 38.2% line because there is a cup in development. If this will indeed be developed then we will see ROX to hit the 7.50 again.

Downside of this is that we also have a threat of ROX going to 4.89 in case our support will not hold. This 4.89 is the Senkou Span B of our daily cloud and on weekly chart, it is where our Kijun Sen is moving horizontally.

Have your trading plan ready in case you want to get in.

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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