Raffles Education – Down Trend started!

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.

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