Epure – it is time to take a breather!

Epure International closed with a black marubozu candle today at $0.61. It has also formed a Head and Shoulders and will probably retrace back to test the 20D and 50D MA support lines again. If it breaks these MA support lines and move south, the trend reversal is confirmed. The chart and candlesticks pattern look bearish. However, a retracement back to $0.46 (61.8% Fibonacci Retracement level) is good for a healthy long term up trend.