SHOP | Informative | Day trade plan

SHOP

Price Action & Candlestick Analysis:

The price seems to be in a short-term downtrend, as it's mostly moving below the moving averages.
The long blue bar shows a strong bullish movement in one of the 15-minute intervals, but it seems the momentum could not be maintained, as the price started declining shortly after.
Moving Averages:

There are two moving averages, one short-term (potentially 50-period) and one long-term (potentially 200-period). The stock price is currently below both, which is generally a bearish signal.
The moving averages appear to be converging slightly towards the end, potentially indicating a change in trend in the future if they crossover.
Volume:

There's a significant spike in volume during the bullish move. This suggests that there was strong buying interest during that time.
Following the bullish spike, the volume seems to taper off, which can be an indication of a decrease in trading interest or momentum.
Support and Resistance Levels:

The "Bullish Line" is set at 53.48, which might act as a resistance level in the short term. If the price breaks above this with significant volume, it could lead to further bullish movement.
The "Bearish Line" is marked at 52.49. This might serve as a short-term support level. A breach below this line could indicate further downward movement.
Target prices are set at various levels, with the nearest being Target Price 1 at 52.06, then 51.37, and the lowest being 50.69. These could serve as potential support levels or price targets for a bearish move.
On the upside, if there's a change in trend, the target prices are 54.57 and 55.28.
RSI (Relative Strength Index):

The RSI seems to be hovering around the mid-level, currently at 42.70, indicating neither overbought nor oversold conditions.
The movement of the RSI is generally flat, suggesting no strong momentum in either direction at the moment.
Overall Sentiment:

The overall sentiment from this chart seems to be slightly bearish, considering the price is below both moving averages and is closer to the bearish line.
However, the RSI is near the middle, and the moving averages are converging, so there could be potential for a change in trend. It would be crucial to watch for breakouts above resistance or breakdowns below support, coupled with volume, for a clearer direction.

Trade closed: target reached