1- Harmonic has formed a ABCD Formation. see the orange line.
2- No MACD divergence is detected.
3- MACD Crossing & Direction is certainly Bullish.
4- Stochastic is showing Overbought strongly. a correction is past due.
5- EMA 20_50_200 are all Bullish.
Weekly Analysis:
On monthly is creating "CUP & HANDLE". see the screenshot in the red box from Monthly chart.
It is overbought and overdue to do correction according to Stochastic.
It will do the correction and continue Bullish move and the Cup & Handle is formed nicely. I will ride the Bearish correction first and then get on the Bullish move to continue and hit the Monthly trend line (in Red).
04/23
2- No MACD divergence is detected.
3- MACD Crossing & Direction is certainly Bullish.
4- Stochastic is showing Overbought strongly. a correction is past due.
5- EMA 20_50_200 are all Bullish.
Weekly Analysis:
On monthly is creating "CUP & HANDLE". see the screenshot in the red box from Monthly chart.
It is overbought and overdue to do correction according to Stochastic.
It will do the correction and continue Bullish move and the Cup & Handle is formed nicely. I will ride the Bearish correction first and then get on the Bullish move to continue and hit the Monthly trend line (in Red).
04/23