The 50%point of the trading range since the price originally broke out on the 19th August 2014 is 63 cents. It is a well known retrace level where buyers could be lurking. At this point we have bounced from 64 cents this week, maybe a coincidence but following today's effort it is difficult to predict if he mayhem is over, hope so.
However the weekly spinning top candlestick which has developed as of today would usually be considered indecisive or neutral or maybe slightly bullish but the daily has thrown up a bearish engulfing pattern. So tomorrow's price action will be pivotal in the short term.
So far short term support for this past nine trading days has held at 64 cents however a break below 63 cents and we could be looking at 50 cents (61.8 fib) next stop.
Weekly
Daily
AJX Price at posting:
65.5¢ Sentiment: Buy Disclosure: Held
