First of all, monthly it's approaching channel bottom as well as monthly cloud top.
Then looking at weekly, it's clear that higher volume formed a much smaller red body. Clearly there were buyers stepped in. But does that mean a bottom is in? Not necessary. I am looking for reversal sign on a weekly basis.
However, in order not to miss a best entry, one has to take some risk.
Back to daily chart, there is a little bit sign of slowing down. I would not trust that much until more bars printed. However, remember three important levels underneath:
1. 46 - Monthly channel bottom
2. 45 - Volume level
3. 42 - Volume level
Dipping below any of them could be dangerous but also opportunity to watch for immediate reversal. Ideally to hold 46.
Given my main focus is on ASHR, I would not play too much on this one. Also because it's not a momentum name. Better for longer term players.
Then looking at weekly, it's clear that higher volume formed a much smaller red body. Clearly there were buyers stepped in. But does that mean a bottom is in? Not necessary. I am looking for reversal sign on a weekly basis.
However, in order not to miss a best entry, one has to take some risk.
Back to daily chart, there is a little bit sign of slowing down. I would not trust that much until more bars printed. However, remember three important levels underneath:
1. 46 - Monthly channel bottom
2. 45 - Volume level
3. 42 - Volume level
Dipping below any of them could be dangerous but also opportunity to watch for immediate reversal. Ideally to hold 46.
Given my main focus is on ASHR, I would not play too much on this one. Also because it's not a momentum name. Better for longer term players.