$RAY fell below the 7-day low: current price 2.0395, previous low 2.0553.
After the breakdown, watch two things:
· Whether the previous low of 2.0553 turns from support into resistance (the rebound fails to reclaim it)
· Whether volume increases during the breakdown; a break on low volume could just be a bear trap
Which signal do you trust more?
#RAY
After the breakdown, watch two things:
· Whether the previous low of 2.0553 turns from support into resistance (the rebound fails to reclaim it)
· Whether volume increases during the breakdown; a break on low volume could just be a bear trap
Which signal do you trust more?
#RAY