The stock price continues to decline, making capital protection a priority. Cutting losses (CL) quickly may be necessary to mitigate further downside risk.
Currently, the Relative Strength Index (RSI) is in oversold territory, indicating potential exhaustion in selling pressure. However, the Moving Average Convergence Divergence (MACD) remains in a downward crossover (DC), suggesting that bearish momentum is still intact.
As of now, there is no clear signal of a rebound. For a trend reversal to be confirmed, the stock needs to establish a pattern of higher highs and higher lows, forming an upward staircase. A decisive breakout above a key resistance level would be the first sign of a potential trend reversal.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research and consult with a qualified financial professional before making any investment decisions.
Currently, the Relative Strength Index (RSI) is in oversold territory, indicating potential exhaustion in selling pressure. However, the Moving Average Convergence Divergence (MACD) remains in a downward crossover (DC), suggesting that bearish momentum is still intact.
As of now, there is no clear signal of a rebound. For a trend reversal to be confirmed, the stock needs to establish a pattern of higher highs and higher lows, forming an upward staircase. A decisive breakout above a key resistance level would be the first sign of a potential trend reversal.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research and consult with a qualified financial professional before making any investment decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.