ADI has to overcome the consolidating downtrend.
If ADI could trade above the last valid mangenta "2" a longsignal would be generated. TPs on the way up could be 65,5 / 68,5$
Trading above 68,5$ will accelerate the upswing-move.
The Chart turns beraish with Prices below the last mangenta "3?" and in particular below the last red valid "2"
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1) ADI has retraced back to a validated uptrending support level
2) ADI has pulled back while pushing through its lower bollinger which should be viewed as a high volatility pull back long opportunity typical of most uptrends
3) Both the 100 simple moving day average and the 200 simple day moving average remain in a bullish configuration with the price above...
Today we have seen a drop of 2% with below average volume behind it.
This indicates to me that this move down is just a small correction and I will look to get a long position from my buy zone which is highlighted green.
Quite a simple set up and not much more to say about it!
