Bullish Signs:
Also noticing a negative divergence however. I don't think it'll have the same strength to reach the top of the channel, maybe a gap fill. Would think the safest entry is after confirmation above the 50 SMA.
- Large volume the last few candles showing bulls trying to stop the drop down below the 200 SMA on the daily.
- Bullish divergence on MFI and Stochastic implies volume attempting to push it up
- Market trend is leaning towards positive.
- Completed bullish cypher pattern
- Returned to the support of an ascending channel
- Squeezing between 50 and the 200 SMA on the daily.
Also noticing a negative divergence however. I don't think it'll have the same strength to reach the top of the channel, maybe a gap fill. Would think the safest entry is after confirmation above the 50 SMA.
Comment:
Worried about the setup as it could also be rising wedge that broke down with a bear flag. Would tread carefully.