Shares of Alacer Gold Corp, which are down more than 1 percent on Wednesday, could see more falls, technical charts suggest.
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.