SuntecReit finally broke the prominent 5o-day SMA support line by crossing under the 25-day and 50-day SMA. This signals that prices are likely to plunge soon. Strong hint of hitting the long term 200d SMA. Besides, other indicators also point to a downtrend. Bearish convergence observed showing that the downtrend momentum is strong. The strongest indicator will probably be the bearish centerline crossover. The 12-day EMA crosses under the 26-day EMA, which is a bearish signal.
However, one can also observe that a doji was formed today which signals an undecisive battle between the bulls and the bears. I am speculating that the next few candles are bearish which will act as a confirmatory signal. If they are, go shorting! If they turn up to be bullish, then got to wait and see.
Conclusion: Good shorting opportunity. Might want to go long when more hints are clear as it approaches the 200-day SMA.
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