The Bollinger bands are coiling very tightly which indicates the stock is trading in a narrow range. This is the trigger to watch for a price breakout or breakdown. Many times, large rallies begin from low volatility ranges. This is the calm before the storm. Trading will continue within the upper pink resistance zone and the lower green support zone range until a clear strong move emerges. This move out of the range will be challenged by the red channel support and resistance boundaries.
Stochastics, RSI and MACD still falling and price may retest the 50% Fibonacci Retracement support and the green support zone. Current outlook favours a downward bias and the green defence zone must hold to prevent slide towards the lower red channel support boundary.
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