#overbought #RSI indicator is in the overbought zone we may see some corrections here
#inverse Head and shoulders #pattern is formed and passed the neck line in an uptrend which is a bullish signal confirmation.
Technical Analysis and wave analysis confirm that #Nazdaq has reached its fib level to complete its wave 3 uptrend movement and becomes ready for some corrections.
Fundamentally and technically semiconductors are on the move Recently they have experienced massive drops in value due to the high volatility in the broad market however considering the fact that they are highly demanded and many other industries and their productions are dependent on the semiconductors the potential move and growth should be quite significant.
Regardless of the political issues, technically speaking it’s time to have some rest ! What is your opinion?
Resistance levels ahead in weekly chart, what do you think?
#penny stocks #volume #smart money #momentum #divergence
If it doesn’t come back from here the next level would be at 22.2 which is the the 200 MA and the 0.78 of #Fib retracement
Price action to the strong resistance line and breaking out the counter trade line