On Wednesday, STX OSV re-test the resistance at $1.25 and closed at $1.21 with HIGH volume of 12.76 million shares traded.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
Both RSI & MACD are bearish as RSI trend downwards.
Important Resistance of STX OSV: $1.25
Immediate Support of STX OSV: $1.17
Currently prices are resisted by 200 days MA at $1.25
Prices gap up on 20/Sept on the good news of STX OSV winning new contracts.
However the rally is short lived as investors began to take profit ...
...