FULL METAL JACKET! While others will see this as a downward chart, I am seeing some real potential here. I stated that we would see the price go down to between 5450 amd 5200, give or take how sharp my pencil is (Yes, I used to do stock charts in pencil). We went to $5100 and bounced on 10/18 (still watching this)
Take a good look at the indicators, all pointing down, but the pattern is, when these all rally, they THEN retrace which is where we are right now. This is like clockwork, the ups and downs of the market in a bigger bull.
The 50 day moving average is STILL pointing up which gives us our longer trend.....going higher after correction.
The MACD histogram is showing that momentum is slowing but we are still in a forward motion and well above the zero mark. The MACD itself, the lines have turned down confirming some slowdown.
BUT, look at the stochastic, do you see a pattern? The stochastic is a timing indicator, and when it turns up, prices begin to rebound.
We are looking at a new play that most will not see. Once stochastic turns up, the MACD momentum will come back into play and we will slingshot up.
Lock and Load.
I'm HODLING, but feel free to pick up some more.
Take a good look at the indicators, all pointing down, but the pattern is, when these all rally, they THEN retrace which is where we are right now. This is like clockwork, the ups and downs of the market in a bigger bull.
The 50 day moving average is STILL pointing up which gives us our longer trend.....going higher after correction.
The MACD histogram is showing that momentum is slowing but we are still in a forward motion and well above the zero mark. The MACD itself, the lines have turned down confirming some slowdown.
BUT, look at the stochastic, do you see a pattern? The stochastic is a timing indicator, and when it turns up, prices begin to rebound.
We are looking at a new play that most will not see. Once stochastic turns up, the MACD momentum will come back into play and we will slingshot up.
Lock and Load.
I'm HODLING, but feel free to pick up some more.