At this time I think we should look at the weekly chart to determine the movement that coming next, in the daily chart Dark cloud pattern was appeared in Monday and Tuesday’s candle (D chart), and today was a kind of confirmation for bearish movement ( 5 % down ), even though the stock closed above Monday opening price ( 441.61).
The weekly opening price will play a very important indication by the end of the week, shall we see a Green or Red weekly candle? Today the volume was lower than the previous day and the RSI was 86.11 which is lower than the heist peek (81.95) in July 6th.
The level of 470 reflects 50% of the Monday candle and this level considered as an Expected SELL area (D chart), 463.30 still considered as a support line.
The price above the EMA21 in the Daily and 4hrs chart, and below the mentioned indicator.
The major sell reason for today was fundamental, because of sell for one of the major shareholders in addition to secured profit theory.
More sell might be expected because of the (BLS) on Friday (Pre-market), therefore Friday is expected to be a strong trading day based on the BLS report.
The weekly opening price will play a very important indication by the end of the week, shall we see a Green or Red weekly candle? Today the volume was lower than the previous day and the RSI was 86.11 which is lower than the heist peek (81.95) in July 6th.
The level of 470 reflects 50% of the Monday candle and this level considered as an Expected SELL area (D chart), 463.30 still considered as a support line.
The price above the EMA21 in the Daily and 4hrs chart, and below the mentioned indicator.
The major sell reason for today was fundamental, because of sell for one of the major shareholders in addition to secured profit theory.
More sell might be expected because of the (BLS) on Friday (Pre-market), therefore Friday is expected to be a strong trading day based on the BLS report.