September 26, 2012 / 5:25 AM / in 5 years

MIDCAP-Australia's Alacer Gold technicals suggest downside

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.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below