Raffles Education closed at $0.49 with another bearish candle today. It looks like the down trend is starting soon. All other technical indicators showed weaknesses:
- Stock price below 20D, 50D and 200D MA.
- Stock price below the Parabolic SAR line.
- Stock price at lower Bollinger Band.
- MACD is becoming bearish convergence.
- RSI is moving down.
- Stochastic is bearish and at oversold region.
Immediate support at $0.485 and next support is $0.45.
I am staying out this stock until I see a trend reversal.