1. It is in a downward trend, see weekly chart
2. It is below 200 day MA on daily
Good thing is that it is at a good psychological support area of 50 and if this holds, there is a good chance of a short term bounce. One can play it long with caution.
Want to do day trading for a living? Want to lean how the stock market works? Learn to invest in stocks and start investing to save for retirement.
I teach my day trading strategies and call out on real time basis on twitter and stocktwits? Learn the way I trade and make consistent returns. Check out my strategy all in one place - http://agaptrader.com/Trading_DVDs.html
