Macquarie Group: the downside prevails.
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Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
[You must be registered and logged in to see this image.]
Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
- Pivot: 87.50
- Our preference: short positions below 87.50 with targets at 81.00 & 77.15 in extension.
- Alternative scenario: above 87.50 look for further upside with 91.50 & 94.00 as targets.
- Comment: the RSI shows downside momentum. The stock broke below the bullish channel and the lower boundary of Bollinger Bands. Both 20-day and 50-day moving averages are declining.