A serious technical breakdown takes prices down — trying to break the trend of the last months, prices broke through the 50 day SMA, commonly followed, and accelerated toward the key area at $4.825 only to fail. The area around the 50 day is not as significant (some traders use these areas as trend) but the key to the recent run lays with the higher low after the higher high last month and in early in Oct. A break and settle below that area may have serious impacts on the run since late August.
Major Support: $4.88-$4.825, $4.61, $4.537,$4.375, $4.211, $4.156, $3.92 Minor Support: $4.728-$4.70, $4.66 Major Resistance:$5.028, $5.148-$5.166, $5.379-$5.40, $5.64, $5.964, $5.996,$6.177, $6.24-$6.493
