$DNL: Is there a sign of pullback?

DNL$DNL Daily Chart

$DNL last traded price is 20.15 as of March 25, 2015, short term trend is still bullish but weak. The critical support to watch out for is located at 38.2% fibonacci retracement level at 18.96. There is also resistance-turned support on Feb 18, 2015 at 19.98.

Midterm trend is still bullish but the last candle shows a sign of correction. In a weekly chart, resistance-turned support is located near 17.14 (Dec 5, 2014).

Using fibonacci retracement, in a weekly chart:

DNL weekly$DNL weekly chart

There are 2 fan lines which will act as support, around the area 18-18.12  and second fan line near 16.25 unless the support will breakdown, a strong support located at 38.2% fibonacci retracement at 15.63. The indicators which are showing sign of weakness is the last candle, ultimate indicator but stochastics and MACD are not showing yet but seems in that direction.  Volume has decreased while on uptrend since Jan 30, 2015 to present in a weekly chart and other indicator is showing downward signal.

Let’s observe first the daily chart.

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