Here above a relatively basic chart on the daily tells us a couple of things:
--> The is nearing quite the cross. Every time this happened in the past, a nice gain followed.
--> The is generally aligned with the MACD, it shows us relatively clear confirmations of the buy signals. Also in this case.
--> CCI is not shown but is in line with the (currently quite strongly in the oversold region)
--> We are at the lower end of the Bollinger bands (but note that the lower boundary of the band is still in a negative trend)
So... The ALMOST tells us to buy (not yet, but we are close). BUT: important remark: we also have to look at the weekly chart, and... that one tells us a different story! The there is currently closing quite the death cross, and we are just above the half line of the , which would imply more room to fall is not impossible.
In general, I would assume that this could more or less be translated into: some more blood, then a nice upward recovery, and then some more blood. Also look at how the Fibonnaccis interact in this story. On the daily, the 50% level was tested yesterday. Today, we see a test of the 61,8% level. Probably the most prudent way would be to start accumulating a position gradually, taking advantage of any further dips (or if the trend starts to show us clearer skies, on the dips in the upward channel), but remain somewhat at the sidelines, keeping dry powder. Especially for the ones intending to hold for some time.
Note that this is by no means to be considered as formal investment advice