First let's look at the Daily (left side):
- We hit a RSI of around 96 the second time and are highly oversold. The first time it market a temporary Top!
- Normally a stock moves in Waves. We detached from the MAs and are likely to return to the 50 ema earlier or later.
- Volume Analyses also shows signs of excessive bullish volume we normally see on overshooting tops.
Let's look at a shorter time frame now (4h - right side):
- We see a weakening RSI.
- The Trend has not broken down so far and the 9 ema is still holding. I suggest to at least set a stop or Trailing stop below here.
- The VolumeAnalyses is showing sell signs (red triangle down)
Conclusion:
In case of a pullback the first "Volume support" is around 15. Which is marking the top of the prior re-accumulation phase.
A backtest of the "last point of support" is normally needed to confirm the bias and regain strength for the next move.
The bullish scenario would be a pullback on low volume, that is holding the support zones.
- We hit a RSI of around 96 the second time and are highly oversold. The first time it market a temporary Top!
- Normally a stock moves in Waves. We detached from the MAs and are likely to return to the 50 ema earlier or later.
- Volume Analyses also shows signs of excessive bullish volume we normally see on overshooting tops.
Let's look at a shorter time frame now (4h - right side):
- We see a weakening RSI.
- The Trend has not broken down so far and the 9 ema is still holding. I suggest to at least set a stop or Trailing stop below here.
- The VolumeAnalyses is showing sell signs (red triangle down)
Conclusion:
In case of a pullback the first "Volume support" is around 15. Which is marking the top of the prior re-accumulation phase.
A backtest of the "last point of support" is normally needed to confirm the bias and regain strength for the next move.
The bullish scenario would be a pullback on low volume, that is holding the support zones.
Ghi chú
The RSI is of course highly overbought, not oversold!
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.