We are retracing the fall from 598 to 315. So far the stock has sucessfully attempted to reach the 0.618 retracement level of 490. The rise form the lows near 315 is observed to be implusive with wave 1 been leading diagonal.
The corrective waves are in progression with immediate resistance at 456 and support at 420 levels.
Directional movement indicator clearly show the absence of trend. The DMI+ has recently crossed the DMI- with the pick up in the price however the ADX isn't supporting the upward movement.
The corrective waves are in progression with immediate resistance at 456 and support at 420 levels.
Directional movement indicator clearly show the absence of trend. The DMI+ has recently crossed the DMI- with the pick up in the price however the ADX isn't supporting the upward movement.