Valuetronics – [ Lower High On Each Rebound, What’s Next?]

Chart Source: Poemsview 20th March 2019

Valuetronics together with the other electronic stocks had a retracement after having a decent run up over the last week.

Valuetronics has caught our attention for some of the reasons below.

1. Its rebound is lower than the previous rebound at $0.74
2. Valuetronics is below its uptrend line now.
3. Valuetronics is near the horizontal support of $0.68. A break below that might signal more downside.
4. Valuetronics is also below its 20ema

With these reasoning Valuetronics is now on our radar. A break below that $0.68 might have more downside.

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