This is in interesting structure as we can see that it is in a large wedge that started since july and within that wedge there is a channel created since mid September. On the daily there is bulish divergence on the RSI,MACD, William r% and OBV RSI www.tradingview.comIf we zoom in on the hourly we see that this falling wedge is about to mature and it is...
With the bearish outlook especially with the corona-virus I don't think this wedge will mature just yet as outlined there are 3 key support areas that may provide enough momentum to break out of the wedge. With that being said, I have a feeling the corona virus will need to play out more so I think a 52ish rang is realistic. And maybe, just maybe this creates...
Just a fun experiment to see if this will play out based on Elliot wave theory. If this larger impuls wave forms then we can reach 52. Pivot point is based on points where allot of buying/selling has occurred.
There is going to be a big drop in my opinion. There is a double top and it seems like we have completed an impulse wave and now it is going to complete its correction wave. Moreover there is divergence on RSI, William r% and OBVRSI
Just a simple play in an upwards channel Only issue I have is is that there is rejection on the bottom of the channel. Taking a closer look we see some bullish divergence meaning it wants to go in. I would not enter the trade until I see it enter back into the channel and it has a nice wick on the hourly indicating clear rejection of bottom of the...
Looking at the Daily chart we can see that the 200 EMA was rejected 4 times. Furthermore, it is confluent with an important resistance area around 51.50. There was a recent rejection on November 12 as well on the 26. one thing to notice was how large the volume was on November 26th ending with an important bull victory. The RSI has a bullish divergence if you look...
Sentiment shifting in the sector and many of the other names had a massive breakout, so this could be next. starting to reach the apex of the wedge and there is bullish divergence on rsi and macd. Volume is starting to pick up aswell.
Taking a birds eye view of this stock,it has clearly fell from grace and what gets me interested in these stocks is the potential upsides if they turn things around. Zooming further in we can see the price action is currently in a massive wedge ( people who follow me knows I have a thing for falling wedges). In the latest earnings report investors must had...
At the hourly we can see 1) a falling wedge 2) bullishly divering rsi 3) bullishly divershing macd 4) Bullishly divering OBV I believe it may bounce off the bottom of the support of the wedge and also test the RSI trend line once more. Then we may get a nice pop.
On the daily we can see bullish divergence on the RSI and MACD it is also on falling wedge as well. There is also bullish divergence on the weekly aswell. Hesitant to take a long term position because the fate of this play will depend largely on the earnings, which could easily become another massacre like we saw in November. would not be a bad idea to take a...
It is no secret that this whole sector has been hit hard. This graph does have abit of promise.As we can see it is at a very steep downwards channel but I believe we are nearing an end. We can see that on the OBV, MACD histogram and William R to be bullishly diverging . on top of that the RSI is bullishly diverging on three points. We can see that the price...
://www.tradingview.com/x/Sa2vQQey/ On the 3D chart we can see that when price action is oversold on the RSI and R% and has touched the 200 EMA it has bounced. On the 2HR we can see that not only is it forming a falling wedge, but it is resting on support that was formed on march. There is bullish divergence on the RSI and William R and in the macd histogram (hard...
While I am bullish from a longer perspective I believe from a technical POV it is very bearish in the short term. Why? 5 reasons: 1) very lower volume in the upper movement and four other 4-5) bearishly divering on RSI,R&,MACD and OBV. I believe this is a false breakout in a falling wedge and the true bottom will be 2.07ish
High risk to reward falling wedge set up. possible targets is the 55 and 200 EMA. Some bullish divergence on RSI and William R%.
Taking a look at this down trending stock we can see that each lower low becomes less and less with the macd histogram becoming progressively smaller. If we take a look at the RSI it is bullishly diverging a lot as notes by the higher lows on the rsi and the lower lows on the price action. If we take a look at the pattern that it is forming it seems to be a...
This is a more risky play since its a long on a downwards trend, but the risk to reward of this play is too juicy to pass up. If you were to enter at the high as of today then has a risk to reward play of 11. historically when this stock has a sharp drop and there there is bullish divergence on the weekly, it popped back up very quickly very quickly after a...
In this case I don't think the B would make a good shorting opportunity as the distance between 1 and (A) is too small. Waiting for the larger wave 2 to be completed for the long opportunity.