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The overbought buying momentum in K-REIT was corrected today as the RSI slipped out of overbought territory. OBV shows that the trend of accumulation is intact and the MFI still shows rather strong demand. So? I won't be overly concerned with the selling down.
Immediate support is at $1.26 which is where we find the 20dMA. Any further selling should find the next support level at $1.22, the top of a consolidation formation and this is also where we find the 50dMA approximating. If $1.22 should give, which could, of course, happen, the next support is at $1.16.
Related post:
K-REIT: Moving into the next band?
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