TJL.N.0000 - Teejay Lanka Plc - Bearish not a trend failure

TJL is having a massive rally since June 2012. It broke out of the 100sma during this period, and had respected this line up until the beginning of 2016. But in March 2016 the price line went above the 100sma line once again. On Friday the 16th Dec 2016, the price touched it again, as such the trend is still in tact as long as it is above this critical support line. However the present trend has more LOWER HIGHS, as long as the lows are going to be giving higher lows, followed by higher highs the Stock will not resume the uptrend. If Friday's close above 100sma to be the support then it can retest the present downward sloping purple trend line at 45.50. And anything above that will be bullish for the counter. As long as the stock is below the purple trend line the stock price could fail to rally and come down to 40.00, 39.00 and to a minimum of 37.60. I like to watch this stock.