I didn't think that AE would go below my trend line, but it did briefly and now we are getting bullish divergence with price and RSI
Comment:
If you look at the hourly chart you can see slight bullish divergence but you can see the price movement as of today. We will have to wait and see what happens with the rest of today and tomorrow. Plus AE just signed a new deal with Papers.ch for micro payments and cold signing so hopefully this will be bullish news and we will get the upward movement we have been waiting for
Comment:
Comment:
Look at the V-Shaped recovery with a 3 bar bull reversal pattern. Short term very bullish. Hopefully it turns to long term bullish trend reversal
Comment:
So the price went lower. We still have the last or lowest trendline of support left. But the price action still looks like we are bottoming. The last accumulation period apparently was enough so we are in another accumulation phase at a lower cost. But even though we have lower lows the RSI is still showing bullish divergence. We may bottom here or we may go lower, but it is my belief that the bulls will defend the upward trend.