Trend
- Uptrend, Higher high and Higher low
- MacD signal above Ctr. is displaying uptrend
- 20d MA is pointing up and recently completed 50d bullish crossover.
- Price brokout from long standing resistance @ 3.47 with high volume is significant would be strong resistance turn support.
Candlesticks
- Last trading display bearish engulfing, indicating short term retracement expecting, need one more bearish candle to confirm
- Price supported by rising window ( 3.92 - 3.86) and appeared to be on top of a channel.
Indicators
- RSI overbough 70% pointing down is expecting to retrace towards 61% level in channel.
- MacD histogram 4G1R is bearish, expect short term retracement.
- Bollinger band - Price outside the band is expecting to retrace back to 20d near term
- GMMA chart shows short term and Mid term MA are crossing above long term. The long term MA consoldiation suggest investors approaching Price/value agreement and down trend is ending soon if the long term MA begin to expand. i.e. good to enter when short term MA rebound near the long term MA.
Conclusion
- Short term is expecting price to retrace.
- Long term indicating confident is building up and good to consider 'long' when price rebound to support (3.857 rising window support, 3.5 )
- Wait for MacD 4R1G to enter
- Target resistance @ 4.3, 4.87
No comments:
Post a Comment