AYN DailyWe have enjoyed a nice upward move from the 4's to a...

AYN Daily

We have enjoyed a nice upward move from the 4's to a cycle high of 8.6c. Stochastics rolled over (with more downside potential) and selling followed to find a low of 7c today. Last Thursday supported 7c also so will it hold? The bulls regained some late momentum today to close off the low at 7.3c. Volume was lower today so the question is has the selling finished? Upward trend is intact and any further retracement targets the 38.2% Fib at 6.8c and 50% at 6.2c. So sub 7c could be on in this retracement but that is healthy before next leg up.
With little historical data to line up price targets we are left with Fib extensions and repeating ranges to guide future price. Whether we consolidate here, hit the fibs or swing up to new highs on news depends on the market.

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