Indicator patterns
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TA
-Strong trendline support, the 20 over the 50SMA confirms a bullish trend. The price moves upwards as the candle stick fills the gap in between both.
-RSI has support at 45.
-Momentum slightly starts to rise.
-Volume thins out.
All prior to a rally.
To sum it all up.
SP rallies only when volume thins out, candle sticks have filled the gap between 20/50SMA and momentum rises slightly before the RSI hits the 45 area. I also like that we had a small move upwards today with barely any volume, tells me the sellers are about done for now.
This is a textbook bullish setup imo.
Swing trade but will not be holding this for too long. My sell indicator will be when momentum hits the red line.
Thanks for viewing
-Strong trendline support, the 20 over the 50SMA confirms a bullish trend. The price moves upwards as the candle stick fills the gap in between both.
-RSI has support at 45.
-Momentum slightly starts to rise.
-Volume thins out.
All prior to a rally.
To sum it all up.
SP rallies only when volume thins out, candle sticks have filled the gap between 20/50SMA and momentum rises slightly before the RSI hits the 45 area. I also like that we had a small move upwards today with barely any volume, tells me the sellers are about done for now.
This is a textbook bullish setup imo.
Swing trade but will not be holding this for too long. My sell indicator will be when momentum hits the red line.
Thanks for viewing
Ghi chú
Sold out for a small loss, will be keeping an eye on this one.
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