WFMI: Next couple weeks will be vital

This is a weekly chart of WFMI. WFMI is still in the down trend channel. In the past two months, WFMI tested the EMA 50 week curve three times. To see a trend reversal, WFMI has to move above the EMA 50 week curve first, then there is a horizontal resistance and the resistance from the upper bound of the down trend channel.

If WFMI cannot reach over the upper bound of the down trend channel, the $36 level should be closely watched, if there is a price break down at this level, the down trend will continue. If support is found at this level, WFMI will turn sideways.