H&S Breakdown can lead Infibeam lower
On the daily charts, Infibeam had been showing some strength lately, with higher bottoms and higher tops, and looked all set to break above its recent highs of 58. But in the last 2 days, a sharp downtick has led to some negativity in the charts.
Infibeam has closed below its 20DMA and there seems to be a Head & Shoulders breakdown on the hourly charts. In case Infibeam is unable to sustain above this neckline, this breakdown can first test the 48-48.50 support and - if that gives away - then low 40s. If you're trading short on the basis of this H&S Breakdown, keep your SL above the breakdown candle.
Infibeam has closed below its 20DMA and there seems to be a Head & Shoulders breakdown on the hourly charts. In case Infibeam is unable to sustain above this neckline, this breakdown can first test the 48-48.50 support and - if that gives away - then low 40s. If you're trading short on the basis of this H&S Breakdown, keep your SL above the breakdown candle.
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