RH Petrogas - short term up trend broken

After over a month of short term uptrend, RH seems to be unable to break resistance of $0.64 and has come down from there. The narrow uptrend channel has been broken, with current price supported at 150ma level $0.585. Any further downwards pressure could see 150ma support broken and price test $0.560. Any further break will see price move towards $0.50.

Things are not looking good as MACD has crossed its signal line and seem to be crossing the center line soon, which will signal a change from uptrend to downtrend in the near term. Price has also touched the lower bollinger band for the first time since the narrow uptrend which shows a gain in downwards pressure. Coupled with poor market sentiments throughout the whole Asia market, it would be better to get out and wait for recovery (if any)