##UNFI was unable to break above and rejected from the resistance area, which spans from $6.50 to $7.00. This rejection is a clear indication of seller strength and a sign that the bulls are struggling to gain momentum. As we previously advised, this was a reason not to take any trade, as the risk of a failed breakout was high.
Although the price has pulled back, we may see another test of the resistance area in the near future. If the price fails to break above this zone again, it could lead to a further decline towards the support area, which ranges from $5.50 to $6.00.
The support and resistance areas remain the same, and it's crucial to keep an eye on these levels for any potential trading opportunities. A breakout above the resistance area or a breakdown below the support area could trigger a significant price move. Until then, caution and patience are advised.
Additionally, it's important to monitor other technical indicators, such as the Relative Strength Index (RSI) and Moving Averages, to gain a better understanding of the market's dynamics and potential trading opportunities.
