Stock: FRUIT
Company: Fruitas Holdings Inc.
Support: 1.66
Resistance: 1.78 / 1.88


The stock was able to cut down losses at MOC, after seeing an intraday low of 1.67 and an intraday high of 1.80. FRUIT closed at 1.70, down by -3.95% or -0.07 pts on yesterday’s trading session.

Based on the chart, technical indicators were mainly bullish except for MACD whose bearishness based on histograms have been renewed. RSI14 was recorded to be at 53.69 but note that it was sharply pointing South. Meanwhile, DMIs remained bullish with momentum getting weak and selling pressure is starting to spike.

A bearish engulfing candle formation was also spotted, which could signal a further decline on the stock price.

Investors with attractive positions might want to take in some profits already. In this case, the bulls might continue to guard FRUIT at 1.66.

On the other hand, resistance was recorded at 1.78.

Recommendation

Take profits.

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