Wednesday, February 3, 2016

MRSGI: Approaching the Downtrend Resistance Area

Metro Retail Stores Group, Inc.

A Bearish Doji Star pattern formed up on MRSGI near its downtrend resistance line after the recent rally. This is a bearish reversal pattern but still needs confirmation.

Trading Plan
- Avoid for now and wait for a pullback near support or breakout from its downtrend resistance line (with volume) before taking any position.
- Potential BUY near its support at 2.95.

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