After the Break of the multiple tested supportlevel@ 9, 5CAD the stock gained downdynamic - the obligatory retest of this Breakoutlevel last week initiated an acceleration of the downmove. But where will this downmove end?
Yesterday we not only kissed the EMA 200 - we closed below it! This is a very negativ technical signal in the midterm/longterm view.
The RSI dived into the oversold Level, so we could exspect that we could see a countermove perhaps these days.
If we could not recapture the EMA 200, a dip down to the next supportlevel @ 7,3-7,6 (formed of former Highs and Lows) should be exspected.
Only trading above 9,5 CAD will brighten the Chart!
Yesterday we not only kissed the EMA 200 - we closed below it! This is a very negativ technical signal in the midterm/longterm view.
The RSI dived into the oversold Level, so we could exspect that we could see a countermove perhaps these days.
If we could not recapture the EMA 200, a dip down to the next supportlevel @ 7,3-7,6 (formed of former Highs and Lows) should be exspected.
Only trading above 9,5 CAD will brighten the Chart!
Note
sad..but not really surprising Note
is this a H&S?Note
Here is the exspected Countermove...the RSI is confirming the buying Signal. 
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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.