Gamuda Retracement after hitting the resistance.

Hope everybody profited from the previous rally and take the profit when it hit the resistance as mentioned before. ( View this previous post).

Yesterday it is showing a retracement which is good for the next round of bullish. So let wait for this bull to rest and ride again smashing those new resistances..

Observation
1) Trendline - Uptrend Bullish
2) Formed higher high- Bullish
3) MACD - Formed 4G1R and retracing ( Bearish) . Let monitor until we get 4R1G and rebound on the support..
4) RSI -  Break below 70% (Bearish)
5) Sto - Bearish Crossover and break below 80% ( Bearish)
6) ADX - strong momentum and bullish
7) Candle Stick - Gap Down with black Candle ( Bearish)
8) Volume Distribution - Selling Pressure is high at the last minute ( Bearish)

5 Points

       3 Points

Winner Bear ( Throw down wrestling style)

This counter retracing the support

Entry Price 3.87

Resistance at 3.97 and 4.25

Support at 3.8 and 3.69

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