SNSN schreef op 4 september 2018 14:27:
[...]
The stock is in the mt-downtrend since Jul 24. The downtrend is given by the mt-'falling-top-line' determined by two points: ~189 (July 24) and ~186 (Aug 7). The upper downtrend edge is around ~178.5 today (Sep 4) --> strong (dynamic) mt-resistance (practically coincides with the static st-resistance at ~178.3).
So, it's just standard downwards 'border reaction' at the (dynamic) mt-resistance formed by the 'mt-falling-top-line'.
To make picture a bit more transparent, take a look at the fact that SMA(20) hit the 'falling-top-line' at ~184 on Aug 14. However, the SMA(20) did dived under the 'falling-top-line' on Aug 16, predicting just (still possible) though weak st-uptrend. This (st-uptrend) has actually started on Aug 17 as upward 'border reaction' after hitting the lower edge of lt-uptrend at ~171.3. A very weak st-uptrend (since Aug 17) was actually over on Aug 30 (indicated, for instance, by the A/D-oscillator) and confirmed yesterday when 'mt-falling-top-line' was hit, but not broken upwards. The lower edge of lt-uptrend is around ~173.5 today (Sep 4) --> that's dynamic support.
Important s-zone is ~172-170. If it's broken, the next target is ~166.
Do not forget that above ~120 - the mid company worth based on discounting future earnings model (the upper worth is ~161) - the stock is just a 'playground' for active profs.
Good luck.