Technically. Right in the middle of everything..
- Not overbought nor oversold, RSI of 54
- Downward trend still in tact, buying will feel more comfortable if that is broken
- We think that that’s more likely to happen (because of fundamental reasons), but technically, there is little to suggest
- There is a faint case for higher lows, the one in Feb 11 is higher than the previous one in Sept 10, so there is a case to be made for accumulating when the stock falls again
- We’re also bang in the middle of many averages (20, 50, 200 day moving ones), not too much help from that either.
We have a feeling that accumulation will pay off, but it’s difficult to make a strong case for that. The best case is the fundamental one put out here