I have been watching this stock since the price crossed the 50 MA. 2 days after that occurred, an engulfing bullish candle showed itself to try to penetrate above the 50 MA again. It failed. The second blue arrow shows another engulfing bullish candle after a doji candle. It looks this particular stock is on a bullish momentum. MACD confirms bullish momentum at this time. the 50 MA is going up. However, 20 and 40 EMA are below the 50 MA. They are on a bullish momentum as well. The volume confirms the momentum. The force index is on a bullish momentum.
If on the Feb 22 or 23, I see a candle above the 50 MA. I would set a buy order 0.05c above that particular candle. Based on the chart patterns, the past bullish engulfing candles had about 40cents to 50 cents increase in price. It is then followed by a healthy retracement. I think this is a start of an another upward channel. If it is, I will short sell my way up.
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