The consolidation is potentially reaching its apex of descending triangle pattern. Although the descending triangle is a bearish formation that usually forms during a downtrend as a continuation pattern, however there are instances when descending triangles act as continuation patterns during uptrend. The stock eventually closed above 20-day SMA after it rebounded...
It is concluded that Brent eventually exactly hit the short-term target of USD54.84 based on previous updates (Brent Crude Oil on 20-Dec-2020 and 3-Dec-2020). Brent however reversed after that.
Since Brent rebounded off 38.2% Fibonacci retracement on 2-Nov-2020, it has been progressing a new base of uptrend market structure by continuously making higher highs...
The hammer candlestick rebounded off at the strong support of 0.95 which has been tested several times previously yet the price is closed below 20-day EMA.
Enter position if the price closes above the 1.035 with TP1 @1.08 and TP2@ 1.135. Support is 0.95 and next support is 0.895.
However, despite hammer is a bullish Japanese reversal candlestick, the STO...
The second C&H pattern is about to complete. The price is now being traded above the rising combined 20&50-day EMA since 13 Nov 2020 and this combined EMAs also has crossed above 200-day EMA on 16-Dec-2020 which indicates a potential bullishness in the future, which is further strengthened by the green cloud kumo.
It is noticeable that since 5-Nov-2020, the...
The price eventually breached below the neckline and completed the double top pattern, marking the completion of distribution phase. Since the last update on 24-Nov-2020, the price made several attempts to penetrate above 50-day EMA but futile. The bearishness is further strengthened as the price is now currently trading below 200-day EMA as the last support and...
An upside breakout of ascending triangle in the direction of prior trend, has been signaled by a penetration of the upper trendline on 17-Dec-2020.
The short term price target (USD54.84) is measured from the height of vertical line at the widest part of the pattern and extrapolated that distance from breakout point.
The target coincides with the earlier flag...
The short-term trend has been on down-selling pressure since early December, nevertheless based on the green kumo cloud, the future trend still looks bullish.
Despite the price violated below 20-day EMA, it managed to close at 38.2% FR and briefly above the 50-day EMA.
A hammer Japanese candlestick indicates the price is rejecting to go lower and sends a signal...
Since its IPO, the stock has been increasing steadily and moving within an uptrend channel.
The price just penetrated above a upper flat trendline of ascending triangle and the trend is expected to continue to rise with some healthy pullbacks.
Next R/ TP:
• 3.315 of upper uptrend channel (coincides with 100% FE & ascending triangle target)
• 3.67 (168%...
The price penetrated above a declining upper trendline of pennant pattern and closed above 200-day EMA, supported by volume higher than average.
The bullishness is also supported by rising combined 20&50-day EMA as well as above kumo cloud. The momentum indicator is still rising and yet to reach overbought area. Based on the green kumo cloud, the future outlook...
1) Price has recovered since 21-Apr-20 from three significant events i.e. Jan-Mar 20 nosedive, the 20-year lowest price (USD16 in Dec 2001) and USD5.23 downside gap occurred on Mar 20.
2) The positive recovery has been preceded by a bullish divergence indication between the price and STO indicator.
3) A rebound off 38.2% retracement as a result of medium-term...
A bullish engulfing candlestick rebounded off 61.8% FR and 20-day EMA after a brief overbought correction. The price is expected to resume its upward movement as it is now above the rising combined 20,50&200-day EMA.
The bullishness of the trend is supported by positive momentum in MACD.
EP – 0.355
Next R/ TP:
• 0.45 (coincides with 61.8% FE) – take half profit...
A bullish engulfing rebounded off 61.8% FR and Span B Kumo Cloud. The price is expected to resume its upward movement.
EP - 5.08
Next R/ TP:
• 5.21(coincides with 61.8% FE)
• 5.33(coincides with 78.6% FE
• 5.48 (coincides with 100% FE)
• 4.810 (61.8% retracement). Immediately cut loss below 4.805