Still room for more selling?
Sent: Thursday, January 07, 2016 3:12 PM
Subject: ****************** AusGroup: Breakdown of 3 months support at 0.150..... more weakness likely below, CFD SELL.... Price 0.144
Subject: ****************** AusGroup: Breakdown of 3 months support at 0.150..... more weakness likely below, CFD SELL.... Price 0.144
Ausgroup has been trading above the 0.150 support for more than 2 months and has even rebounded from this level multiple times. However, over the past one month we have seen a gradual decline with lower highs formed and today it has broke the 0.150 support on strong volume along with market sell down. This can open the way to a new downside with it possibly heading back towards the 0.130 then 0.11 level too. Indicators are not looking good either and reversing strongly on today's price action. With 0.150 as the cap now, more bearish, CFD SELL to ride weakness possible.
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