Will CARIMIN (19/11/2020) continue downside bias ?
CARIMIN has been riding downtrend channel since 4-Aug-2020 and currently is on top of parallel channel. Stochastic showing a downside bias with no breakout sign from MACD.
Volume are quite heavy in past few days probably due to vaccine/covid recovery theme.
If the price action unable to breakout 0.565 resistance zone, it will continue downward in the channel with Support of 0.510, 0.440, and 0.335 being the strongest support.
The stock has very small balance float (24% of 238M shares) compared to its similar market capital stock like ALAM (58% of 1307M shares) or THHEAVY (28% of 2221M shares). This adds significant speed to price movement of CARIMIN when Energy theme comes into play.
TAYOR
Volume are quite heavy in past few days probably due to vaccine/covid recovery theme.
If the price action unable to breakout 0.565 resistance zone, it will continue downward in the channel with Support of 0.510, 0.440, and 0.335 being the strongest support.
The stock has very small balance float (24% of 238M shares) compared to its similar market capital stock like ALAM (58% of 1307M shares) or THHEAVY (28% of 2221M shares). This adds significant speed to price movement of CARIMIN when Energy theme comes into play.
TAYOR
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