The trading of Korn/Ferry International (KFY) looked pretty good all last year until early December.
KFY bounced off the rising 200-day moving average a few times last year (see the chart above), but it broke below it in December and rallied to the underside of the average line and failed. Prices for KFY are now below the declining 50-day and 200-day averages, telling us that we are in a downtrend. The On-Balance-Volume (OBV) line peaked in early December, indicating that sellers are more aggressive. Also, the Moving Average Convergence Divergence oscillator is very bearish.
With KFY under the $32 support level, a deeper decline to the $30 area or even $28 is possible as we move further into 2016.