Rcecap has been declining since 15/01/2008. Note that the 81 ema line is about to cross down on the 200 ema line. MACD and stochs are continuously declining too.
How much lower can it go? 0.52? 0.50? 0.47? Can anticipate further decline if 0.47 is breached.
If you held this counter and acted upon your stop loss, you would not be saying "Oh Shite!" now..
2 comments:
RCECAP is at 0.66 now. what are your thoughts?
On 27/2/2008 rcecap was technically bearish. In the next couple of weeks it proceeded to dip to 0.49 and bounce. And thereafter formed a double bottom. A reversal & more upside to come? I dont know. At the moment my chart reading shows sideways movement. A lot of ding dong for now. I think it needs to break 0.70 for more significant upside. And not dip below 0.62 to maintain its current sideways movement status quo. Daily MACD & stochs giving mixed readings. So.... trade what u see. Possible range bound trading between 0.62 - 0.68? Hmm..
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