Shares of Alacer Gold Corp, which are down more
than 1 percent on Wednesday, could see more falls, technical
The stock, which saw a sharp rise over the past month, faces
resistance at its 200-day exponential moving average.
The Relative Strength Index (RSI) has crossed below 70 from
a topping formation, and is bearish.
The Money Flow Index (MFI) shows a bearish failure swing,
which suggests a reversal.
The stock is up more than 17 percent over the past month,
while the broader index is up marginally over the same
period, based on Tuesday's close.
A bearish failure swing occurs when MFI becomes overbought
above 80, then falls below 80 and fails to move above 80 on a
bounce and then breaks below the prior reaction low.