Hey people, AMDOCS LTD is in a fake bearish configuration with high sell volume made and a water carrying candle followed by lower leg. In the TIMEFRAME M1 we see a hammer candle upside down with a buy volume feedback issued, it came to the VWAP to test it before checking the base of the bollinger. And will do a reversal Then go to all the points of the bollinge, before going to the top of the consolidation zone for a new test. Great potential to breakout the price with a reverse momentum return to both the area to come in a second and reach the next high.
With a next resistance to come before the breakout of a consolidation zone in passing (on the TIMEFRAME H4). We can see an adjustment in front of all its tracks two excesses (of TIMEFRAME D1) and an adjustment (on TIMEFRAME H1). If the test takes place we can try to check the top of the bullish channel.
Please LIKE & FOLLOW, thank you!