Confirmed break down from my conservative rising support today.
Second consecutive close below that line, today at $2.17.
Every oscillator I watch is weak and below neutral and descending.
RSI in down trend since 3/19.
Full stochastic went into oversold today. Lower Bollinger limit (2.20) is 1.9166. My custom shorter one (2,13) $1.9568 and 50-day SMA is $1.9485.
As mentioned earlier, I suspect we'll have our first fourth consecutive down day since we started the run up 12/13.
On a daily chart I can't see anything that suggests, to me a good target price for a potential reversal. So that means I'll be playing it by ear as things progress - not my preferred method.
I tried drawing an alternate rising support that originates at the low of 2/12 and had a touch, with penetration, at the low of 3/3 and today's low. Not really a great fit and not suggestive to me of strong support - origination and two touches is minimal and one of these touches was a penetration of the line.
So, still sitting on my hands is what I'm thinking I should continue with here.
Bill
