Big test next week IMO.
Two indicators that I have great confidence in have show a slight hint of reversing. You can easily see that MACD is curving back towards the red. Now that alone certainly isn't a green light to enter but it's certainly at the "pay attention" stage. The other is the 8ema has at leased levelled out and at the closing price. As I said, a big test next week to see if this plays out. It's the only positives I've got.
The weekly sits on the .037 support level. An interesting fact, there hasn't seen a candle close above the bollie median since the end of march '24. Staggering performance. That is the greatest indication that no-one with a long perspective should enter until at least there's a closing candle above the median. And even then it needs to have confirmations on that. Far better to pay more for a stock that's rising than the BS averaging down loss making industry. Just ask Alcy.
BIO sector got knee-capped last night. Might be a tough opening on Monday.
And for a bit of excitement, the short / hedge position has increased!
And good morning moderators.
Cheers
(20min delay)