has been on a run since it tested its 200 weekly moving average back in December, but the rally may soon be over. This rally has been on declining volume
(this basically means volume
isn't confirming this rally, which indicates a bearish
divergence, as the price is rising, but the volume
is declining), and the weekly Stochastic
appears to be preparing for a turn to the downside. We are also at a previous resistance level
which has rejected the price several times in the past. To me, it looks like a correction/pull-back is in the cards.
Moving average guide (All weekly moving averages for this post):
10 MA in Orange
20 MA in Pink
50 MA in Green
100 MA in Yellow
200 MA in Red
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk.