The chart shows that the stock has broken an important support level. This support had held the price many times in the past, but now the price has fallen below it. The breakdown has happened with high selling volume, which means more sellers are participating and the move is strong.
RSI is also below 40, which shows weak momentum and that the stock is in a bearish phase. When price breaks support with high volume and RSI stays low, it usually means the trend can continue on the downside.
This setup suggests caution because buyers are weak and sellers are in control.
RSI is also below 40, which shows weak momentum and that the stock is in a bearish phase. When price breaks support with high volume and RSI stays low, it usually means the trend can continue on the downside.
This setup suggests caution because buyers are weak and sellers are in control.
Penafian
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.
Penafian
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.