Let's see if it gets rejected here or bursts through
This would be the 6th test of the yellow trend line since May
50 day moving average is still declining but really nice R/R here...
Need a neutral to good close to the week tomorrow.
This could be setting up for a nice swing trade over the next few weeks/months. Keep an eye on any further breakout and consolidation above shaded rectangle and 50 day moving average in orange.
Follow through needed now.
Has been a laggard this year. Several failed breakouts on this trend line in the past. Maybe this time it goes.
Has been an outperformer since end of January.
Yesterday's close saw a big selloff into the close and after a gap up this morning, the market sold it down even lower. The rest of the day was pretty much a trend up. A higher high tomorrow would be a confirmation with anything over 207.14 likely sending us back to 210.
Would like to see it over 5 day MA as soon as possible but RSI held its trend too.
This is clearly ready to pop with a key horizontal level and diagonal trendline being tested. Above rising 5 day MA. Placing a stop under rectangle.
Something has to give soon. Major inflection point coming. Thanks to @PKA for pointing this out.
Seeing a lot of similar charts. Coiled with weakness over last few days but still holding onto longer uptrend.
No trade here right now for me. On watch.
Chart looks a bit different from $IBB with defined channel. Looks like it would be easier for this one to pull back farther though.
If it happens soon, RSI and price uptrend should still be in tact. Stop below shaded rectangle of interest.
I'm long right now but I'll be out quickly if we break to the downside. Two different inverse H&S on this chart. Do you see them?