The price is in the long-term upward trend, near the 50-day moving average, which coincides with the horizontal support, formed by the previous bottom. If this level is broken, we will probably see a price drop to 23.6% Fibonacci correction.
The high tech sector is developing well and the expectations for the first quarters are optimistic. The company will announce its financial results for the first quarter of May 2.
Indicators:
Demarker - located in over-sales area and pointing down
Demarker Sequential - the indicator has begun counting to indicate that the downward impulse is still in effect, but is at its end a positive signal
Volumes - volumes are below average and do not signal rising sales or purchases
Source: Bloomberg
Jr Trader Petar Milanov
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