Fundamental analysts give Targovax a big BUY, with a target of around NOK 19,-.
I've been waiting for a clear signal of support lately and it has just been formed.
IF the weekly candle closes more or less the way it is now, several positive buy signals are there:
- Long term blue downward trendline got broken and retested. Clear support found on retest.
- Horizontal support area of 6.8-7.15 (purple/gray) held and got a good bounce.
- Weekly cloud got tested and provided clear support. price above the cloud once again.
- Taking the fibonacci retrace of the most recent low and high, the 0.5 fib retrace marked the reversal point, furthermore supporting the idea that this was simply a retrace in a continuing uptrend.
- Bullish engulfing candle pattern generated on the weekly chart(provided price stays more or less like this).
- Short term counter trendline (black) got broken after finding support.
The only 2 cautions I currently have are:
- The relative low volume.
- We are still inside the daily cloud (only just). We clear this cloud at 7.93 (current level).
I've been waiting for a clear signal of support lately and it has just been formed.
IF the weekly candle closes more or less the way it is now, several positive buy signals are there:
- Long term blue downward trendline got broken and retested. Clear support found on retest.
- Horizontal support area of 6.8-7.15 (purple/gray) held and got a good bounce.
- Weekly cloud got tested and provided clear support. price above the cloud once again.
- Taking the fibonacci retrace of the most recent low and high, the 0.5 fib retrace marked the reversal point, furthermore supporting the idea that this was simply a retrace in a continuing uptrend.
- Bullish engulfing candle pattern generated on the weekly chart(provided price stays more or less like this).
- Short term counter trendline (black) got broken after finding support.
The only 2 cautions I currently have are:
- The relative low volume.
- We are still inside the daily cloud (only just). We clear this cloud at 7.93 (current level).
