On the left we have the daily chart, and on the right we have the monthly chart. Yes, the month isn't fully formed yet. But the monthly chart illustrates a top trend that casts a shadow of doubt over the daily chart that I wanted to point out. Look how this earnings breakout was smacked back down below the blue top-trend. Also, note how volume and RSI during the 2012-2015 rally diverged and ultimately broke down. The volume is similar now, as is the RSI.
Monthly chart can take months or even years to play out.
Having said that...
The daily chart shows good volume which indicates buyers stepping in. Note the white bottom-trend line, if we can hold above this white trend-line, I think we make another attempt at the white resistance level at $120.71. If we break below it, I have my eye on the $114.58 to $115 range.
OBV is currently favoring a pullback. Let's see if this short-term trend can hold for the bulls.
Monthly chart can take months or even years to play out.
Having said that...
The daily chart shows good volume which indicates buyers stepping in. Note the white bottom-trend line, if we can hold above this white trend-line, I think we make another attempt at the white resistance level at $120.71. If we break below it, I have my eye on the $114.58 to $115 range.
OBV is currently favoring a pullback. Let's see if this short-term trend can hold for the bulls.