Sure thing. Gees I could show you so many stocks that look like...

Sure thing. Gees I could show you so many stocks that look like this.

First thing to notice is a nice rounded bottom, far more preferable than a sharp reversal. (who doesn't like a rounded bottom?) Tool a couple of months.



Now to put some detail into it and this is a classic Bollie Bands play.

You can clearly see that there was a bollie band squeeze mid way through July, the SP broke above the bollie median line tagging the upper line and retested the break a couple of times (yellow circle) Perfect. SP then sprung off the median line with volume initiating this current uptrend.
You can also see that every time it's bounced too far out of bollies it gets smacked down and told to behave. (normal).
Now here's the thing and the part that I love, the SP is now riding the channel between the 8ema and the upper bollie, brilliant. All while climbing above the 50ema (red).
So, while the SP continues trading in the upper bollie band zone between the median line (cream) and the upper bollie line, the stock is in an uptrend. So don't panic if the SP takes a cool off and comes back tagging that cream median line. The higher that rises at it's current angle is the higher your safety net.
Anyone with basic charting platforms, stick the standard bollie bands on a basic daily chart and you can follow it yourself. Above the median line - uptrend. Below the median line - downtrend.




Hope I haven't confused you all too much, bottom line is currently the PA is bullish overall.

Cheers.