Everex (EVX) to $11.60

The above weekly chart above is incredibly bullish following a 90% correction and oversold condition on the daily chart (not shown here).

Why bullish?

1) Trend reversal. Price action is no longer printing lower lows.

2) Past weekly resistance becomes support.

3) Price action closes a candle body above the 100-week (Cyan) following the 21-week (yellow) crossing up the 50-week EMAs - very bullish.

Is it possible price action falls from here? Sure.

Is it probable? Very unlikely.

A buy from 50 cents is amazing.

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Comment:

15 days and 70% return so far. No indication of overbought conditions - stay long.

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A very bullish setup prints on the daily chart with a Dragonfly DOJI following the sell off. Might be a good moment.

Together with the weekly chart below (circled in orange) we can see price action is finding strong support as it once did before two years ago in April 2018.

1st target $5

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The recent price action pullback shown on the daily chart below has just resulted in the printing of ‘incredible buy’ opportunity (dark orange column). Price action is now testing support on previous resistance.

On the weekly chart below price action appears to find support on the 100-week EMA. But it is not confirmed until Monday 24th.

This would be a good accumulation area.

Comment:

Price action has pulled back to support as stochastic RSI crosses up 20 (green circle - look left). A good moment to add to any long positions.

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Bullish divergence between price action and oscillators

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