AIO 0.00% $9.13 asciano limited

A high wave has formed on the last close which shows indecision...

  1. 246 Posts.
    A high wave has formed on the last close which shows indecision within the market with possible reversal in trend. Bollinger Bands and 10MA are still indicating upward movement in price. However MACD and slow Stochs are showing momentum reversing to the downside. I would be watching for a close below the 10MA and upper BB turning south as confirmation that the bears are taking control. A trailing stop at between $4.57 and $4.60 should be considered to lock in profit and adjusted on the upside if trend continues upward. All IMO.
 
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