Well A reversal usually takes several days to occur ...the take away from today is this:-
"Bears were not able to push this stock to a new short term low"
- Down on Thursday (Wrongfully IMO on report with no bad news)
- One 1 pip lower on Friday
- Could not get lower Today ...
So according to short term swing trading principles you expect to see capitulation of bears shortly and a swing back up... Bulls did not have enough confidence today that confidence will grow ..another day like today and they will start think cheap entry...
However if we break and close below Fridays low tomorrow then that will bearish ...
I predicted that today it would not travel lower that Fridays low ....and it hasn't.
AVB Price at posting:
7.3¢ Sentiment: Hold Disclosure: Held
