Why many people wants to buy this counter which is making lose a lot while they can place their money on other good sector like Oil and Gas or Steel counters.. This is what you call share market hehe
Observation
1)Trend Line - Bearish and below the downtrend line.
2) HL - Testing the previous Higher low at 1.07 and break this will confirm that this counter will go for bigger discount rate where everybody will be happy to go and buy again. Please do not fall into this trap again to buy a falling knife
3) MACD - Bearish Signal getting stronger. The red line is leaving the blue line bigger and bigger everyday. So do you still want to buy this falling knife?
4) RSI - Plunging below 50 bearish sign
5) ADX - Volume Momentum at 29 which show stronger downtrend taken place
Conclusion
Please do not buy this falling knife because it is very dangerous..S1 1.07 and S2 is 1.03 and once break this support line it will be free fall to 0.92 which will be like more than 20% losses. No good for angpow money .. :(
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