Outlook Price broke below the cloud on 26 February 2021 and on two occasions, has been unable to move back above the cloud, with the cloud providing stiff resistances. Price has broken below an uptrend line starting from 28 September 2020, adding to the bearish tone. Conversion and Base lines had a bearish crossover earlier, hinting of a bearish trend. Lagging Span is below price of 26 days ago and is inside the cloud. MACD remains bearish. We are expecting price to resume its downtrend to the support level at $0.55.
Outlook Price rose to a recent high of $0.72 on 14 May 2020 but that high was accompanied by a divergence warning of a possible high from MACD. This was followed by a correction that has brought price down to $0.540 and below the cloud as well. Conversion and Base lines had a bearish crossover, confirming the bearish trend. Price is below both Conversion and Base lines as well. Lagging Span is below price of 26 days ago but is inside the cloud. MACD is bearish and moving lower. Both of MACD lines are below the zero line as well. We are expecting price to move lower to the next price support point at $0.46. There is also a strong chance of price testing the previous low at $0.435
Outlook Price after breaking below the cloud, try to rally but the rally was halted by the previous high as well as the cloud and Base line. Price formed a Marubozu candlestick price pattern yesterday in breaking below the price low at $0.695. There was a small gap formed as well and if price fails to close this gap, the trend is likely to be bearish. Price is now below the cloud and below the previous support. Both Base and Conversion lines had a bearish crossover earlier, confirming the bearish trend. Lagging Span is below the price of 26 periods ago and also below the cloud. Lagging Span confirms the bearish trend. MACD is bearish with both its line below the zero line. Price could continue its decline to the previous low of $0.61
Outlook Price broke an up sloping trend channel yesterday, closing below the trend channel and at the day’s low as well. Yesterday, price has opened at the high and closed at the day’s low which is a strong signal of a bearish trend. Price is also below the cloud. The day before price broke below the trend line, price form a Gravestone Doji, which is a bearish signal. Price is below the Base line and both Base and Conversion lines had a bearish crossover earlier, confirming the bearish trend. Lagging Span is below the price of 26 periods ago and also below the cloud. Lagging Span confirms the bearish trend. MACD is bearish with both its line below the zero line. Price could continue its decline to the previous low of $0.92
