@silcop@estate09Hey guys,
Sorry about the charts colour combination, having a few challengers sorting out the new Iress Viewpoint.
So IMO, we needed to wait for more data to be printed to get a more accurate guide as to momentum once the initial breakout fluctuations settled down. Now we can see that the SP is printing candles in between the 8ema (yellow) and the upper bollie band which is super bullish. Traders are working it nicely as there's still large daily ranges but regardless of that, while the SP remains in that channel it's super bullish.
In fact while the SP remains above the bollie median (white) the stock is in an uptrend.
How do we know traders are all over it? Because of the lovely daily range and that's them causing the upper wicks on the recent candles this week closing out and the amounts match a typical trade. Well done to them and it's all fun and games until the liquidity runs low and we'll see how momentum fairs.
Yes there's been a big gap left down at .031 but don't worry about as it's quite likely to be a breakaway gap and it can stay there if your fundamentals are strong?
But overall holders should be pretty pumped by the current chart outlook. But I must point out that the market can change quickly and I'd be monitoring a 30min?hourly chart closely for any weakness.
30min / hourly.
Guys I'm pulling the pin on posting on HC as the place has changed too much for me so will just be sticking to my groups and wish you all the very best.
Cheers.
