Recent price movement action contributes to resulting in high volume. The price closed above the MA line indicating buying interest with TEXCHEM.
The MACD indicator indicates a positive signal, hence, confirming the price movement with volume.
A precaution with an RSI indicator where high momentum indicates the stock is in an overbought state.
Let's save...
The candlestick downtrend has probability ended with a fresh buyer which results in volume cross above the MA line.
The MACD and RSI indicate a positive momentum with the price action.
Let's save TEXCHEM in WL and watch out for significant price action movement with a result in volume.
R 0.97
S 0.85
Price still submerged inside the water (EMA line).
Don't catch red. Wait it finish the correction.
Patiently wait for the reverse signal.
Disclaimer: Mentioned stocks are solely based on own opinions for education and/or discussion purpose only. There's no buy and/or sell recommendation. Trading involve financial risk on your own. The author shall not be...
Price pullback into 261 fibo zone and rebound, manages to break DTL with RBR demand zone (2.9-2.96)
If this demand is strong, price may rally towards TP1 3.43-3.52.
Clear support at 2.72.
Lets monitor closely!
*Personal opinion trade at your own risk*
Cup & handle structure.
-The base retraced 50% from ATH, (WON said 40-50% during bear market)
-Volume dry up in base
-Handle buildup has low volatility
-Handle around 50% of base with rejection lower base AVWAP
-FA checked!
Cons:
-Price below MA50 during basing period (7 weeks)
-Market may be upward or downward
-Need a bit time before BO handle and retrace above MA20
if we look at the previous movement, the price already move 84% after its breakout previous all-time high on 25 May 2022. Current situation:
- Breakout range
-maintain on 10 MA
The most of strongest Momentum wave - Golden Wave (impulse)
Criteria :
Minor wave 3 in 3rd impulse major Elliot Wave
Strong Bullish Momentum volume unusual
Steepness of a trend line increases from 45% to 70% deg
Strong Break in bar retracement symmetry leading to a change in trend behavior
Bullish gap up price action
In the past 91 days, this stock has undergone huge selling pressure and down by -46%, and now is on Corrective Wave C to find a new lower low. With Stochastic in overbought zone, the stock could continue in downtrend to find a new support around 0.618 level (0.600). A strong support is at 0.565.
A good entry would be to wait for the downtrend line breakout and a...
Any input @ feedback for me to improves in drawing the chart and writing down my trading plan is really appreciated. Btw, be nice please.. Thank you and have a great trading
