Fauji fertiliser is forming bearish cup and handleFauji Fertilizer Co. Ltd.PSX_DLY:FFCArslankhanMarwatFauji fertiliser is forming a bearish cup and handle pattern, and it has closed below the longterm trend line, along with that the price is below the 200 days ema. Note☆ close below 200 ema means that bearish downtrend is in play. A fall below 469 with a weekly close below that would push the price down to the mentioned targets. At each level i will study the market to make entry decision. Price is currently hugging the weekly 50 ema which is at 485.45. So far ema 50 weekly has been acting as a support. Price retraced above this during the last week. I am expecting that a weekly close below this level will push the price below. The next weekly ema is at 400 pkr, that is the 100 weekly ema. In my opinion a weekly close below 469 will like push the price down to 400. These are my thoughts and not an invest advice.