LMIR: Up against a wall?

LMIR staged an up day as well but on rather lacklustre volume. Price hit a high of 47c before retreating to close at 46c. 47c is a many times tested support and could be a strong resistance now.  For those who wish to, it is a good price to reduce exposure at. Price could touch a high of 47.5c for this REIT tomorrow and the downtrend would still be intact.

However, the momentum oscillators are encouraging with MFI forming a higher high and the OBV continuing to rise. The MACD looks like it would do a bullish crossover with the signal line in negative territory.  Let's see what tomorrow brings.

My strategy in a downtrend: Sell into strength as price rebounds to test resistance. Buy more when price shows signs of bottoming or when the trend shows signs of reversing. Bearing this in mind, I would queue to sell some at 47.5c, the trendline resistance, tomorrow