This is an interesting looking chart...
The price and volume pattern in the white box is similar to a bull pennant, a bullish consolidation/continuation pattern. It's also very close to the apex, meaning a breakout should come soon.
The daily chart shows 3 positive divergences, 3C, Stochastics and RSI
The hourly chart looks very positive as well.
This is my crossover screen which caught the move down and is now signaling long
ADX Crossed down below 40 signaling the end of the downtrend. The Trend Channel, which held the last move, has a current EOD stop at the $8.85 area. You could wait for a breakout above $9.20-$9.25 on good volume and also place a tighter stop around $9.15-$9.20, depending on your trading style and risk management.
I'd definitely set some price alerts though.
No comments:
Post a Comment