after a 14% run in the current situation this breakout may mean a lot. It allows the price to travel through some levels without hitting overbought on indicators.
- Both Daily and weekly MACD are bullish as the stock been diving for a long time
- Breakout of red down channels, and nearing on the resistance from previous tops with strength
- Volumes are nice, and do support the possible Invers head and shoulder formation
- IHS is still to be confirmed with the breach of the neckline, but once breached, the price is would
a) still be in the blue channel
b) may breach the red resistance
c) be of strength again due to the breaches, and have high volume.
Ideally i would like to see a short retracement between the resistances, and a sharp breach of them up with 10%+ movement
A good bet now, and a safer bet later. I would have also expected a touch of the blue support from previous bottoms, possible double bottom and then a bounce, but a price action before that forms a IHS and makes room for similar play still.
- Both Daily and weekly MACD are bullish as the stock been diving for a long time
- Breakout of red down channels, and nearing on the resistance from previous tops with strength
- Volumes are nice, and do support the possible Invers head and shoulder formation
- IHS is still to be confirmed with the breach of the neckline, but once breached, the price is would
a) still be in the blue channel
b) may breach the red resistance
c) be of strength again due to the breaches, and have high volume.
Ideally i would like to see a short retracement between the resistances, and a sharp breach of them up with 10%+ movement
A good bet now, and a safer bet later. I would have also expected a touch of the blue support from previous bottoms, possible double bottom and then a bounce, but a price action before that forms a IHS and makes room for similar play still.
