I had expected Paypal to rise. It did but not with the momentum I had expected. We cannot overcome the MA so that the preferred direction is the downside at moment. I don't expect to much however, as the our friend the trend is still up.
We trading within a range since mid February. Since March 21st we had declined a whole range. This decline has been retraced since Monday by almost 78 %. This makes hope for another attempt to fall below the range now.
Paypal is gaining upward momentum again after having corrected the rise since March 27th. Provided that we can overcome the MA there is a good chance to test this years highs again.
The rounding weekly top suggests an upcoming major decline due to the outstanding correction for almost half a year. For almost half a year we have not seen any correction so that we can consider the market as heavily overbought.
The rise since March 5th has been retraced and the momentum is renewing. There is not much ore to say. The upward trend that has begun in February is by far not expired and so I think that I can expect a short term retest of the March top.
The previous week could not reach the high of the week before. This was a hint that the bullish momentum is slowing down. The price reaction this week has confirmed this bias as the attempt to reached this high again has been sold immediately. This high seems to become an important resistance zone as it was a support zone for half a year from March to September...
The attempt to correct the decline has been half-hearted only and has been sold immediately. The bearish, i.e. corrective mood has thus confirmed.
Since end January we are trading within a broad range between 71 and 78. Now we have reached the bottom again and may expect another upward retracement . Yes, the trend is still downward and cautiousness is required. Perhaps it will take some more days to confirm a possible bottom here. But a retracement up would indicate the readiness for such a bottom.
The candlestick formation that has been build past week looks like an Abandoned Baby. However the higher opening today has been sold immediately. This means tome that the market is not convinced of rising prices. As well the Baby is not convincing as it does not stand at the end of a real downtrend. In my opinion the decline from the last March week till now is to...
... but not this time. We are in sideward mode. And our friend should not help us. But the overall market today was a jump down. And in this respect Tesla held not so bad. as it managed to recover from today's low and the one year old bottom has not been touched. That's why I think that Tesla may have the potential of a minor correction upward now. There is a...
After the short from March 7th until March 20th we saw a rebounce. It has reached more than 50 % retracement now and I think that it is worth to play the downside again.
Since end of December we are in a downtrend and since 19th March we are trading within a range. At the end of March we started a test of the top of the range but failed to exceed it. Today it looks like if we are gaining downward momentum again. The trend suggests that there are more chances to see lower prices.
The February bottom had been broken on the 29th. But now 1 week ago we managed to regain the entrance into the previous range again. The reversal I take as a signal of predominating buying interest now.
We have retraced the mid February decline by 38 % now. Close to an open downward window with a channel that has turned downward already I assume that we will leave the recent trading range to the downside soon.
The impressive correction 3 weeks ago of the little attempt to resume the long lasting decline since end 2020 is a signal that the market is still not convinced in a coming rebound of Ocugen. We have just retraced the last branch of the downtrend which had lasted from July 2022 until the end of October 2023. Thus it may be a good time to find out the chances of...
On Thursday we've exceeded the over 2 months old trading range, made a little correction and opened a win dow today. For me this are clear signs of a beginning rise . As we had built a broad bottom after a steep fall that had lasted for over 2 years there is a potential for some bigger rise.
The second big downturn had begun on March 4th. It has been retraced today. As we saw a second corrective downwave of the long rise since January I expect another corrective move down now to test the bottom of January 31st again. It will intensify when the (red) MA is broken.
On January5th we'd retraced the uptrend the first time and finished the attempt to change the trend on January 17th with another just retracement. The rise that has followed after this failed attempt has been corrected by over 38 % just today. I consider the trend being still positive and expect another attempt to rise within this week.