A 10% drop on the horizon — Here’s why The 1-day

A 10% drop on the horizon — Here’s why

The 1-day chart shows that RAY has broken below an ascending channel and is trending downward.

Typically, a breakdown from this pattern leads the price to retrace to the beginning of the channel—suggesting a potential 10% drop from current levels.

Technical indicators support this outlook. The Bull-Bear Power indicator revealed strong bearish momentum, reflected in the formation of red histogram bars.

Similarly, the Moving Average Convergence Divergence (MACD) indicator confirmed a bearish crossover — also known as a Death Cross — marking the beginning of a new downward phase.