Current price action suggests test of 20 day SMA after finding support at the bottom of the channel and touch off the 200 week SMA (see my other posts on 200 week SMA). The new bullish counter rally is not really confirmed until it can hold above the 20 day and break the blue trend line. A bullish sign would be to break out, retest the 20 and the trend and then continue back up to the top of the channel. Rinse and repeat until the fed stops raising interest rates.
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Morning open and a jump to close gap and test 20 day
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Monday morning a little after 10am and you can see the pullback to stay in the 20 day SMA region.
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I clearly had the wrong day on the previous update. Why I said Monday I don't know because it was Wednesday.
Here is an update on Thursday around 2:30pm.
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Friday close and a strong rejection out of the 20 day SMA band. I would have preferred to see a test that was a gap down and price recover into the 20 day. Instead, we got selling all day.
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Thursday Oct 13 and big rally and another test of 20 day