Stock: MM
Company: MerryMart Consumer Corp.
Support: 4.50 / 4.13
Resistance: 5.71


MM’s strong gap down last Monday dragged the stock below its 100-d MA.

It also resulted in the RSI falling into the oversold territories, as the stock has been on a downturn for the fourth consecutive trading day. The stock even fell to its YTD low of 4.73 before settling slightly higher to 5.01.

Likewise, the DMIs and MACD are gaining strong bearishness.

MM will likely find a stronger footing over the coming days before consolidating sideways.

Recommendation

Cut loss.

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