Bullish Hidden Divergence on PSE:AGI - Trend Continuation?
I’ve identified a bullish hidden divergence on PSE:AGI. This signal suggests a potential continuation of the current uptrend despite the recent pullback.
Chart Analysis:
Price Action: The price has formed a higher low, indicating the strength of the uptrend.
Indicator: The Stochastic is showing a lower low, confirming the hidden divergence.
Support Levels: The price is currently holding above 9.00 support.
Volume: There is an increase in volume, supporting the potential for a trend continuation.
Trade Plan:
Entry: Consider entering a long position at the current price level or on a slight pullback.
Stop Loss: Place a stop loss below the recent low to manage risk at below 8.50.
Target: Aim for a target near the recent high or use a trailing stop to maximize potential gains at 13.75.
Additional Confirmation:
Look for bullish candlestick patterns such as a hammer or bullish engulfing to strengthen the signal. Monitor overall market conditions and any relevant news that might impact the ticker.
Chart Analysis:
Price Action: The price has formed a higher low, indicating the strength of the uptrend.
Indicator: The Stochastic is showing a lower low, confirming the hidden divergence.
Support Levels: The price is currently holding above 9.00 support.
Volume: There is an increase in volume, supporting the potential for a trend continuation.
Trade Plan:
Entry: Consider entering a long position at the current price level or on a slight pullback.
Stop Loss: Place a stop loss below the recent low to manage risk at below 8.50.
Target: Aim for a target near the recent high or use a trailing stop to maximize potential gains at 13.75.
Additional Confirmation:
Look for bullish candlestick patterns such as a hammer or bullish engulfing to strengthen the signal. Monitor overall market conditions and any relevant news that might impact the ticker.