is at the lower bollinger band
with stochastics oversold. It is backed up by the RSI
also recently exiting the oversold lower boundary area, which is a buy signal. All the weak hands and people with close stops got flushed out. Now the MACD
histogram also shows bullish divergence
and is about to cross the zero line. A good risk to reward trade can be made placing stops at the low where they got flushed out earlier, now that they're gone. It was a good place, just the wrong time. Also observed is a pipe bottom candlestick
followed by a gap up at the lower band.