SECB retraces to rest for a while

Thick cloud slowed down the rise of SECB and finally SECB retraces back to 137.30 per share at the closing. It is currently sitting at our Tenkan Sen which provide price support. I think the bullish trend based on Ichimoku system is still intact and retrace should be a welcome development unless a bearish cross will happen. RSI or Relative Strength Index now begins to lighten.

In case it will continue to retrace, our support will be around 126 which is also our 78.6% Fibonacci Retracement level. Also where our Kijun Sen is.


Leave a Reply