Like all of the market stocks, this stock dropped to its first support level (90LE).
Unlike many stocks in the market , this stock has some different characteristics.
1- Did NOT reach the 38 Fibbo yet (out of the 2008 market price) like many stocks experiencing declines now.
2- Reached its pre-defined targets at the moment of the decline (98LE ~ 100LE), so the decline is NOT yet described as sharp nor unjustified.
3- Some other perspectives that I prefer NOT to make public.
Still, like any other stock:
1- If dropped bellow 90LE (Close):
- Stock holders: Should sell and wait for a better rebound point since they should have made some profits gain around 98LE.
- New comers: Should take chances if the stock sharply declined around 85LE for probable on settlement sell near 90LE during to panic sells in the market.
Leave you with the charts:
The bellow chart shows the Overbought area for both MFI and K%:
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