Todays chart – RVNUSDT – Attempting to break the symmetrical triangle formation as it nears the apex
Points to consider:
- support and resistances converging (apex)
- Bullish Price action (sellers bought up)
- RSI above 50
- Strong volume
RVN trading within a mature symmetrical triangle where buyers have consistently bought up the sellers throughout the...
The stock is now making its first bullish correction clearing a daily Resistance (Ascending Triangle Pattern). The breakout is accompanied by a higher volume. BHR has plunged in MArch dropping more 70%.
HOV is bouncing from a weekly Support.
The stock has established a daily range and is attempting to break it. The last daily candle has closed at the Resistance level with strong volume.
I will be observing the breakout in this session. For me, it is a neutral bias until the level is clearly broken. When the breakout...
RHI found support in the weekly chart and is coming with bullish momentum.
In the daily chart, we have a breakout of an ascending triangle. The stock opened with a gap above the breakout with a strong volume before pulling back and closing above the current S/R.
The ideal way to go long is by waiting one or two bullish candles on the Daily time frame to confirm...
I do not have enough history for both weekly and monthly charts to see if there is previous S/R, the stock may want to bounce off.
However, we have an ascending triangle forming in the daily chart and we can notice a relatively strong volume bar at a level below the anticipated breakout.
The only way to go long is to wait for a clear breakout and to wait for a...
HGV was in a strong bearish trend in the weekly time frame. The stock is forming an ascending triangle in the daily time frame with the last bullish candlestick is accompanied by a strong volume bar.
To go long, we need to wait for a clear daily breakout and preferably a retest. The first potential target could be the weekly/Daily S/R
Previously I published this idea with a false broke of neck line.
This time, it clearly broke with strong volume.
I'll wait for retest of neck line, then i'll sell it.
RSI divergence and is descending.