Downtrend over last few weeks may be over as todays bullish engulfing shows signs of reversal. Watch for break of 0.35 to confirm bull break from falling wedge. Close above 0.35 would also be a hammer on the weekly chart. Good buy right now with strong support at 0.30, price target at recent tops of 0.51, potentially higher with any good news releases.
Next week will be decisive for AU to continue as the huge weekly hammer predicted three weeks ago. Because the same hammer also formed a double bottom we would tend to feel secure about our bullish choice. However, this was exactly what happened back in June and the same outcome could follow again, and back then we also had UJ seasonality to back up as...
This is my adaptation on a Bat harmonic and where i expect it to reach. I am currently waiting for a completion of the D point which should show a reversal candle or pattern,currently there is an inverted hammer but to ensure it is a positive reversal i will wait till the close of next candle then i will enter the trade. The current Risk:Reward is acceptable as i...
As we can see from the chart above, the cross is right on a short-term dynamic support (trendline), which has been touched with a very sharp move. Moreover, this dynamic support coincides with a static support level (around 121.22), adding confluence to the analysis. However, before entering the trade, I'm waiting for a confirmation, which I expect to appear on...
AVT has been in a consolidation pattern since July 10th, with a bull technicals behind.
Last candle today is a hammer. Showing buyer strength when price fell to $43.6.
Price just below SMA(50)
Price just above SMA(200)
RSI @56 trending higher
OBV confirming trending higher
Directional move index turned positive
If we can continue above the...
RSI(10) @62 reaching for higher highs - OBV confirming trend
ADX (directional index) on a continuing positive trend
We see a very bullish move, as a hammer candlestick is formed at the 61.8% retracement level.
This is happening as the market as a whole is on a rally.
I would wait to see if we can break $68 (heavy resistance) on Monday.
GNC's endless slumping is kinda hard to understand for me, and I usually get away from this kind of stocks.
A profitable healthcare/retail drug store with only 3+ P/E and a non-stop downtrend from $60 to $2.5 a share in such a bull market!?
Hard to believe, but anyone who tried to pick the bottom based on those fundamental numbers worked horribly so far.