A (rather) disappointing opening?
On 22 Jun, FSSTI gapped down at open to fill the gap created on 18 Jun. By closing, it managed to pare earlier loss, closing at its day high of 2828.09 and interday gap.
On 25 Jun, FSSTI created an inside day bar. It seems there isn't a positive follow-through from last Friday's relative optimisim.
FSSTI not able to move above the Upper bound of Downtrend Andrew's Pitchfork (denoted in red) may have the possibility of range bound between 2780-2870 OR the possibility of testing the Median Line, followed by the Lower bound.
A move above 2845 increase the odds of testing the previous high, 50% retracement level and the Upper bound.
A move below 2780 increase the odds of testing the Median Line and the Lower bound. This may be accompanied by the possibility of a Bearish MACD crossover. Should if a move below 2780 and Bearish MACD crossover occurs, ......
