Today, it closed on Bearish Engulfing Candlestick. It marks a potential change but reliability is low as few days confirmation is still needed to confirm this.
Why i put the stock in radar yesterday? Because it shown sign of uptrend (white top spinning candlestick with increased volume though confirmation is still needed. Indicator trend showing oversold though this is not the buying signal confirmation as I explain previously what is the difference between Trend and Signal.
This time round I have drawn on 3 lines as well.. First line - High Resistance , 2nd line - Low Resistance
3rd Line - Support Level.
This stock is still in my radar and if you want to do averaging down, please know your holding power and also observe the 3 lines below.
Star-Trader
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