Bulls have been unable to capitalize on the recent close above both 21 & 55-DMAs with bears taking comfort in the failure and pullback from ahead of the now key $52.72 resistance. Bulls need a close above $52.72 to provide some breathing space and shift immediate focus to the then key $55.05-56.05 region. The sell-off Friday sees focus having returned to the $47.47 support level with a close below initially target 2015 lows.
RES 4: $56.05 – 2015 High Jan 2
RES 3: $55.05 – High Feb 3
RES 2: $52.72 – High Feb 19
RES 1: $50.94 – 21-DMA
PRICE: $50.17
SUP 1: $49.24 – Rising daily trend line
SUP 2: $47.77 – Bollinger band base
SUP 3: $47.47 – Low Feb 2
SUP 4: $44.37 – 2015 J15 Low Jan 29
