Recent failures ahead of the key $55.05 resistance resulted in a close below the channel base Friday with a close below the 21-DMA and $49.82 support Monday seeing the bearish bias re-emerge and immediate focus on $47.47-48.20. A close below $47.47 confirms a shift in immediate focus to $44.37-97. Bulls now need a close above $50.99 to signal a false break lower and above the 55-DMA to shift focus back to $55.05-56.05
RES 4: $55.05 – High Feb 3
RES 3: $54.47 – Falling daily trend line
RES 2: $52.73 – 55-DMA
RES 1: $50.99 – High Feb 23
PRICE: $49.51
SUP 1: $48.20 – Low Feb 15
SUP 2: $47.47 – Low Feb 2
SUP 3: $44.97 – Bollinger band base
SUP 4: $44.37 – 2015 J15 Low Jan 29
