Pacific Andes is unable to break above the previous uptrend support turned resistance. PacAndes is currently trading below 20D, 50D and 200D MA. Critical support is $0.31 which is the 61.8% Fibonacci Support and also the neckline of a Head and Shoulders trend reversal chart pattern. Breaking the neckline may send PacAndes to about $0.25 level.
Pacific Andes: Down Trend Start Soon
- Post author:Marubozu
- Post published:May 9, 2011
- Post category:Pacific Andes
- Post comments:0 Comments