We see higher lows since mid may and in recent weeks some consolidation in the $18-$20 range. Price recently tested short term support at 17.95 and rebounded testing the .61 fibonacci level.
Several bullish signals:
1. MACD cross
2. D+ crossing D- on the ADX
3. On balance volume confirming price
The most recent candle made a potential double top so I would like to see an increase in volume and a close above $20.10 to initiate a swing trade to the long side.
targeting: 21.37, 22.99
Several bullish signals:
1. MACD cross
2. D+ crossing D- on the ADX
3. On balance volume confirming price
The most recent candle made a potential double top so I would like to see an increase in volume and a close above $20.10 to initiate a swing trade to the long side.
targeting: 21.37, 22.99
Commento:
Double top was avoided and a new fibonacci level taken out. $22.99 target stands.