BULLISH
Is in a Stage 2 uptrend with price above a rising 30W MA.
Relative Strength is above its zero line and trending up.
Price moved gapped up after earnings and has been correcting for the last 33 trading days (just over 6 weeks).
The correction has seen price move through a Downward Sloping Price Channel / Double Bottom.
Price has moved up and out of the DSPC and tightened up. There is a possible tight zone with narrow range and spread bars.
Price has retaken its zero ATR line.
Bullish expansion bars outnumber their bearish counterparts in the structure.
Volume has been roughly average with above average days seen around the lows of the structure suggesting absorption of supply (weak hands).
The last trading day (although this was the 23rd of December shows a blue dot (40% less volume than average).
The last bar is an inside bar making it actionable on the daily timeframe .
BEARISH
Volume has not dropped to anaemic levels.
Price has since printed a higher low but has not yet printed a higher high.
Is in a Stage 2 uptrend with price above a rising 30W MA.
Relative Strength is above its zero line and trending up.
Price moved gapped up after earnings and has been correcting for the last 33 trading days (just over 6 weeks).
The correction has seen price move through a Downward Sloping Price Channel / Double Bottom.
Price has moved up and out of the DSPC and tightened up. There is a possible tight zone with narrow range and spread bars.
Price has retaken its zero ATR line.
Bullish expansion bars outnumber their bearish counterparts in the structure.
Volume has been roughly average with above average days seen around the lows of the structure suggesting absorption of supply (weak hands).
The last trading day (although this was the 23rd of December shows a blue dot (40% less volume than average).
The last bar is an inside bar making it actionable on the daily timeframe .
BEARISH
Volume has not dropped to anaemic levels.
Price has since printed a higher low but has not yet printed a higher high.