Relatively new to technical analysis and trying my hand at using Fibonacci retracement and moving support and resistance lines.
My feeling is Redefine is going through a bit of a correction and probably will find support near to the 3.40 mark. If the drop continues then we could find support again around the 3.19 mark.
If it simply just profit takers from the move above 4.00 we should see Redefine bounce back a bit.
Disclaimer: Just my thoughts and opinions, not financial advice, like I said, new to technical analysis so do not crucify me.
Thanks
My feeling is Redefine is going through a bit of a correction and probably will find support near to the 3.40 mark. If the drop continues then we could find support again around the 3.19 mark.
If it simply just profit takers from the move above 4.00 we should see Redefine bounce back a bit.
Disclaimer: Just my thoughts and opinions, not financial advice, like I said, new to technical analysis so do not crucify me.
Thanks