The bearish divergence as is shown by the falling channel on the RSI, coupled with the fact that 50-DMA has topped out suggests the stock is more likely to leave a lower top formation followed by a bearish break from the sideways channel floor seen at 308.30. Such a move would open up downside towards 277 levels (target as per the measured height method).
On the higher side, only a daily close above the 50-DMA would revive bullishness.
On the higher side, only a daily close above the 50-DMA would revive bullishness.
