M1

M1 - 2nd Dec 2016

M1 is still looking rather weak/bearish from TA point of view.
Looks like it may likely go down to visit 1.94. Breaking down of 1.94 with high volume, that may see further selling down pressure towards 1.90.

If 1.90 support level cannot hold then most likely it may go further down towards 1.80.

One consolation point to take note is that Both Macd & Rsi are showing sign of a positive divergence which may likely see the share price moving up higher from the current price of 1.975.

In order for it to reverse this downtrend it might need to cross over 2.07 with great volume and buying interest.

Short term wise, I think it is still rather bearish and may likely consolidate further unless it can cross over 2.07 with good momentum .
( trade base on  your own decision)