3PAR Inc. (PAR) : Downtrend may continue

3PAR may continue on its downtrend after bouncing off its thin kumo support at around $10.80

For the past 2 trading sessions, the chart shows a doji (look at red arrows) which could be a signal to a reversal of the prior trend.

In this case, 2 doji appearing right after a rebound could suggest that the price will not go higher.

And if rebound fails, we can definitely see a lower high being formed again (look at the green arrows).

Already we have 1 confirmation of a bearish cross with the Tenkan sen cutting the Kijun sen (highlighted in yelllow)

A break below yesterday’s low will be a clear sign that the price will not hold.

By iam802

Trend trading with Ichimoku