MAXR has been in a daily downward trend since Nov 15, 2018 and stayed in the channel between the horizontal purple lines. With the loss of WorldView-4 Satellite on Jan 7 the market reacted negatively and shorts took full advantage causing the break of the lower horizontal line in the channel. This trend line has now formed resistance on the descending wedge (See descending horizontal yellow line of wedge). MAXR in the short term looks to break through the wedge around $7.50/$8.00 (Marked as 1) and then to look to break the downward trend since Nov around $11/$11.50 (Marked as 2). A confirmation of the downward trend break would then require a daily higher low, higher high.
Additional
-Looking for a break of the RSI channel which is currently oversold at 23.
- MACD convergence, still below zero.
MAXR- continuation of daily downward trend
TSX:MAXR
Additional
-Looking for a break of the RSI channel which is currently oversold at 23.
- MACD convergence, still below zero.
MAXR- continuation of daily downward trend
TSX:MAXR