Rotary Engineering - Bullish Engulfing Pattern!

Rotary Engineering is showing a Bullish Engulfing candlestick pattern today. This is a trend reversal pattern after a down trend.

• Next Immediate Support is at about $1.00.
• Next Immediate Resistance is at $1.06 which is 50D MA, 200D MA and 78.6% Fibonacci Retracement Level.
• In order for Rotary to start an uptrend, the stock price need to stay above $1.10 which is above all three MA first, and subsequently clear $1.18. Otherwise Rotary may be moving sideway between $1.00 and $1.18.