Stock: CNVRG
Company: Converge ICT Inc.
Support: 15.10 / 14.80
Resistance: 15.72


The relatively strong -2.55% dip in CNVRG stock price pushed the stock lower than its three-week-long support of 15.34. It is now trading close to its closing price of 15.22 during its debut to the local bourse.

This pushed the RSI into the selling region. It also developed a steep downward bias. Furthermore, the DMIs crossed over bearishly, but the momentum remains weak. The MACD is showing weak sell signs.

There is an immediate support at 15.10 that CNVRG may test in the coming days.

Recommendation

Cut loss.

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