Quick VTHO 4hr chart update:
After yesterday’s massive price rise, VTHO has dropped back under the Upper Bollinger Band which should come as a surprise after such a large rise.
Note that we have had an extreme expansion on the Upper and Lower Bollinger Bands so a BB contraction and price dip is a possibility and should not come as a surprise.
VTHO is back below its Pitchfork Median Line for this 4hr timeframe.
VTHO is still above its 50EMA (Yellow Line) for this 4hr timeframe.
VTHO is still above its Least Squares Moving Average (LSMA) (White Line).
VTHO has found some resistance from Upper Bollinger Band. Note that VTHO is safely above its Bollinger Bands Middle Band Basis 20 Period SMA.
VTHO is still above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range.
At the moment of typing this, VTHO is below its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range i have selected.
VTHO has closed 7x 4hr Volume Bars above its Volume 20 Period Moving Average and looks like it will close a 8th Volume Bar above it.
The Average Directional Index (ADX DI) is showing that the trend strength is still strong with the ADX (Yellow Line) at 56.58 and still above its 9 Period EMA (White Line) which is at 48.46. The +DI (Green Line) has dropped to 39.65 indicating positive momentum has dropped for this 4hr timeframe, but note that the -DI (Red Line) has also dropped to 2.36 indicating negative momentum has also dropped for this 4hr timeframe. Note that the -DI (Red Line) is starting to curve sideways.
The Relative Strength Index (RSI) is indicating that momentum is downwards at the moment, note that the RSI (Purple Line) is below its 9 Period EMA (Yellow Line) which is a sign weakness for upwards momentum. Renewed upwards momentum will be confirmed when the RSI (Purple Line) cross back above the 9 Period EMA (Yellow Line) for this 4hr timeframe. The RSI (purple Line) has just dropped out of the Overbought Zone.
Here is a closer look at this 4hr timeframe.
We could see VTHO range sideways within a range for a few hours/days which would bring the Lower Bollinger Band Upwards, or we could see VTHO drop to its LSMA or 50EMA level as a major support. If the 50EMA fails as support, VTHO could drop back to its Bollinger Bands Middle Band Basis 20 period SMA. If you are waiting for confirmation to place a long, a successfully break ABOVE the Pitchfork Median Line and successful RETEST of that level as support is key, but note that may change as there might be better lower levels to go long if VTHO dips more.
Note that the Pitchfork Hagopian Line has acted as very strong support over the last few weeks so this level is crucial for VTHO stop stay above on this 4hr timeframe.
I hope this is helpful with your trading and hold-ing.
After yesterday’s massive price rise, VTHO has dropped back under the Upper Bollinger Band which should come as a surprise after such a large rise.
Note that we have had an extreme expansion on the Upper and Lower Bollinger Bands so a BB contraction and price dip is a possibility and should not come as a surprise.
VTHO is back below its Pitchfork Median Line for this 4hr timeframe.
VTHO is still above its 50EMA (Yellow Line) for this 4hr timeframe.
VTHO is still above its Least Squares Moving Average (LSMA) (White Line).
VTHO has found some resistance from Upper Bollinger Band. Note that VTHO is safely above its Bollinger Bands Middle Band Basis 20 Period SMA.
VTHO is still above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range.
At the moment of typing this, VTHO is below its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range i have selected.
VTHO has closed 7x 4hr Volume Bars above its Volume 20 Period Moving Average and looks like it will close a 8th Volume Bar above it.
The Average Directional Index (ADX DI) is showing that the trend strength is still strong with the ADX (Yellow Line) at 56.58 and still above its 9 Period EMA (White Line) which is at 48.46. The +DI (Green Line) has dropped to 39.65 indicating positive momentum has dropped for this 4hr timeframe, but note that the -DI (Red Line) has also dropped to 2.36 indicating negative momentum has also dropped for this 4hr timeframe. Note that the -DI (Red Line) is starting to curve sideways.
The Relative Strength Index (RSI) is indicating that momentum is downwards at the moment, note that the RSI (Purple Line) is below its 9 Period EMA (Yellow Line) which is a sign weakness for upwards momentum. Renewed upwards momentum will be confirmed when the RSI (Purple Line) cross back above the 9 Period EMA (Yellow Line) for this 4hr timeframe. The RSI (purple Line) has just dropped out of the Overbought Zone.
Here is a closer look at this 4hr timeframe.
We could see VTHO range sideways within a range for a few hours/days which would bring the Lower Bollinger Band Upwards, or we could see VTHO drop to its LSMA or 50EMA level as a major support. If the 50EMA fails as support, VTHO could drop back to its Bollinger Bands Middle Band Basis 20 period SMA. If you are waiting for confirmation to place a long, a successfully break ABOVE the Pitchfork Median Line and successful RETEST of that level as support is key, but note that may change as there might be better lower levels to go long if VTHO dips more.
Note that the Pitchfork Hagopian Line has acted as very strong support over the last few weeks so this level is crucial for VTHO stop stay above on this 4hr timeframe.
I hope this is helpful with your trading and hold-ing.