Just last week, we spotted some bearish price actions in Hi-P as it broke below the key 2.00 support level…
Was expecting more weakness with more downside on a break below the 1.80 level too…
With a head and shoulder pattern spotted too… negative…
Some downside targets were drawn and we have already hit our 2nd target at 1.60 over the past few days…
See what was seen by inner circle members then…
Downside target were reiterated again and revised lowed over the past few days…
With a potential move towards 1.50 cause we also saw a 1ET BEARISH signal on out PTI system recently…
And then is still no exit on the system…
We have already hit the 1.50 lower revised target today and some short covering happening now which is normal….
But would want to be careful on more bearish price actions below 1.50 where target may be revised lower too..
Take a look at the Bearish signal that we had on the PTI system..
The tech sector is still suffering from weakness and would not want to rush to catch the bottom till we see some stability…
So far still not yet seen…
best if we can see the exit on the bearish signal and hopefully a bullish reversal price actions to lead any recovery back up…
If not…. Would want to be patient to catch the bottom…
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