City Group breaches ascending price channel's support - Analysis - 12-10-2018

City Group's stock skidded in the intraday levels, confirming the breach of that ascending price channel in the short term as shown in the attached chart, with negative pressure from the 50-day SMA, recording another loss of 2.25% in the last session, or 1.57 points, with negative signals from the RSI, coupled with a surge in trading volumes. 

Therefore we expect more losses for the stock, as long as the resistance of 70.02 holds on, targeting the support of 66.55. 

Expected trend for today: Bearish