Property firm Belle Corporation (stock symbol: BEL) has been thriving well below the 5.00 psychological level for about 3 weeks now, and there is still no sign of life or strong activity in this stock.
Buyers are on the back foot and would want a break of the downsloping trendline rather than the horizontal support around 4.80.
The Stochastic indicator is on a bearish formation near the 50s, and it will move further down if price eases.
5.00 is the line in the sand. Buyers must watch out.