@TomTOm49Not advice here for you mate, just my observations and musings on a technical chart.. normally I’d post this in a TA thread but I haven’t seen one here.. so this is all in my opinion of course
This chart is magic, this has been in a downtrend for sometime but has now started an uptrend pretty much today so it’s been building for a while, the sheer volume over the last two days has pushed this uptrend to start quicker... I would expect that slingshot to start opening up like a trumpet over the next three sessions, considering the squeeze momentum is now moved into positive territory..
Not only that look at the entry signals leading up (those yellow bars), this is one of the reasons why the uptrend started, if you were to go back over the last six months of announcements (I have, and I’ve gone back further as part of my due diligence) you can correlate the market sentiment with certain signals.. not everything happens overnight..
The momentum here is not letting up, it’s just started, their has been a squeeze (black crosses on the chart and see Bollinger bands) on pretty much since early October except for a few days when the share price rose.. as it always does, the share price will always follow the sentiment, never the other way around.. And it’s nowhere near overbought yet, and that’s because of the volume.. usually, well, there are exceptions, in my experience if you had the share price jump quickly on low volume it hits overbought territory quickly as a result, but what’s happened here?
Look at the way the macd is pretty much diverged vertical to the signal line, the buy signal three sessions ago (including today) indicated to me something was happening, and I had confirmation through various inputs on Xmas eve.. Now usually you will start to see in the next trading session or two, that macd start to level out and be attracted like a magnet to the signal line.. now when a unicorn event happens, the opposite occurs and that signal line will be pulled towards the macd..
But that’s why I paid the premium on Xmas eve, because I don’t give a shit about the share price unless I’m taking a position or exiting.. the sentiment is what I value above everything else other than fundamentals.. fundamentals rule everything, as sentiment is directly influenced but what we all see as news in the market..
And this
@Kiwiboy00 my friend is why I do what I do
(20min delay)