dorfmanmaster

Avnet uptrend retreat - Hammer @50sma

Long
NASDAQ:AVT   AVNET INC
AVT has been in a consolidation pattern since July 10th, with a bull technicals behind.

Last candle today is a hammer . Showing buyer strength when price fell to $43.6.

Technical data
  • Price just below SMA (50)
  • Price just above SMA (200)
  • RSI @56 trending higher
  • OBV confirming trending higher
  • Directional move index turned positive

If we can continue above the SMA (50); that would confirm the trend.

**I recommend not buying until we see Monday sentiment after Trump's meeting with Xi.



Happy trading!
dorfmanmaster

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