Tuesday, October 23, 2018

Memtech Intl: Selling lower for now... Price 0.755. System says?


Just last week, we have seen Memtech Intl breaking the 0.84 support and there were already some signs of weakness..


Indicators were looking weak and seems like sellers were still not giving up to take it lower…


Was expecting some buying pressure coming back at 0.800 but likely for that not to hold too..


See downside targets that were drawn…




Over the past few days, seems like we have seen a firm break down below the 0.800 level indeed…


And sellers are regaining control for this counter firmly..


Downside targets are still playing out and may be revised lower too on more bearish actions…


More importantly, we actually had a BEARISH 1GT Signal on the PTI System recently…


Already a 14.2% downside from the signal and the thing is…


There are still no exits for that…


See what I mean below..


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