Long term is bullish
price above MA 9/34
inside uptrend channel
however the MA differential is outstretch
and RSI at overbought
may warn a potential correction
gbgaqrs move in 2 - 3 years cycle
now at the through , of possible next cycle
the amplitude is depend on the period of the cycle
daily chart closing shows dragonfly doji, bullish candle stick
minetec had a primary rally back in March 2020.
now this security has corrected more than 50% from the high, and will be the secondary trend.
any fluctuation within day to day will be minor trend and should be disregarded.
trading idea
buy at the trend zone support, and sell at the trend zone resistance.
base on Dow theory, the secondary wave behave as a...
we knew that March is the market bottom.
anything near the market bottom, will be a low risk investment / trade.
looking at the risk and reward ratio, risking 25% down and rewarding 95% is a good ratio.
a good stock to invest early. not to trade.
Market Cycle ( Dow's Theory apply , from accumulation to mark up phase )
