After ROX rally to as high as 7.5 per share from 2.58, it has retraced and moved sideways at 38.2% Fibonacci Retracement level. This level has been a very important support for ROX so far but there are also forces that makes it difficult for it to rise. Recently we have our Kijun Sen moving in a horizontal line at 5.77 where in the price has been attracted.
For those who would like to get some ROX, you may test buy at this leveldown to the 38.2% line because there is a cup in development. If this willindeed be developed then we will see ROX to hit the 7.50 again.
Downside of this is that we also have a threat of ROX going to 4.89 in case our support will not hold. This 4.89 is the Senkou Span B of our daily cloud and on weekly chart, it is where our Kijun Sen is moving horizontally.
Have your trading plan ready in case you want to get in.
Caveat!
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