Nine EntertainmentOur preference: the downside prevails as long...

Nine EntertainmentOur preference: the downside prevails as long as 1.83 is resistance.
Our pivot point is at 1.83.

Our preference: the downside prevails as long as 1.83 is resistance.

Alternative scenario: above 1.83, look for 1.99 and 2.09.

Comment: the RSI is trading below 30. This could mean that either the stock is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the share stands below its 20 and 50 day MA (respectively at 2.06 and 2.16). Finally, Nine Entertainment has penetrated its lower daily Bollinger band (1.78).

Supports and resistances:
2.09 **
1.99 *
1.83 **
1.77
1.7 last
1.47
1.38 **
1.29 *
1.2 **



Where is the bottom ?