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AFCapital21
Mar 27, 2024 7:34 PM

VYNE, going upward after a congestion area Long

VYNE Therapeutics Inc.NASDAQ

Description

After a downward breakout on the support, the price went to the lowest lower of 1.67. However, buyers went strong and rise the price.

During almost 1 month, the price was in a congestion area, and sellers try again to break the support, and they failed with strongers buyers, making a three white soldiers, and crossing the congestion area.

This area was crossed and ended with a doji, and a day after the price opened above almost 5%.

We can see the strenght of ADX increasing as well as DMI+, and the opposite for DMI- that is decreasing.

We can also see that after the breakout, the price comes again to a 10-EMA, that was the top of the congestion area.

The volume increased a lot during the breakout of the congestion area.

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