ARNC might be setting something up.
- Price on Friday 5/22/2020 rose a fair amount on a little greater than average volume. This is a sign of some strength.
- The 20dMA is about to cross the 50dMA. This would be a stronger sign of strength.
- If price crosses and stays above the $12.74 Fib line, then the $16.82 Fib line and the next $20.12 Fib line could be in...
- Price has been recovering nicely in a well defined channel since the Covid-19 crash.
- The base of the channel is formed by the 20dMA (20 day moving average).
- Price has bounced off this lower channel (20dMA) 3 times. This means the 20dMA and channel bottom is a fairly strong support.
- The 20dMA crossed the 50dMA on May 7th. This is a bullish signal.
Since the low around $12 on Mar 18th price has been trading a well defined upward channel.
The bottom of the channel is formed by the 20dMA since Apr 20th.
Price has bounced off the 20dMA (bottom of the channel) 7 times and never closed below it since Apr 20th. Clearly this 20dMA is offering stellar price support.
The 20dMA crossed the 50dMA on May 8th. A...