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China MinZhong (K2N): Bearish and expected to fall further

 

China MinZhong (K2N) has a sell off a couple of days back which see its share price plunge from 1.68 to around 1.42 with little buying to support.

As we can see, it has been oversold with the price far moving far off from the Tenkan sen.

It is expected to have a bounce up to around the resistance level of around 1.56

After which, I expect it to fall again closer to the 1.35 support level.

Target Timeframe : Over the next 1 month

By iam802

Trend trading with Ichimoku