See divergence between price action and stochastic %K (marked with yellow lines). Watch for RSI to break its uptrend.
60m charts take time to play out, but this candle is a warning to buyers and hints at a reversal.
Mainly I am looking at 30m chart, for stochastic to move below 50, and then for RSI to move below 50.
60m charts take time to play out, but this candle is a warning to buyers and hints at a reversal.
Mainly I am looking at 30m chart, for stochastic to move below 50, and then for RSI to move below 50.
Comment:
You can see the long red candle at the end of the day. On 30m chart, there were two bearish engulfing candles today. Stock bounced perfectly off 20 sma; it may move up again before heading lower.
Comment:
Great example of indicators pointing out that a higher price move is "on fumes". Also if you look at hourly chart you will see low volume on the green up candles after the opening doji candle from yesterday.
