change of tune ?

Weekly chart for anyone interested.

Since that large fall, on this chart am only looking at how far up off the lows of the bar it actually closes, which can normally indicate the potential support coming into that bar.

After that we would normally observe the reaction of the next few bars. Are we now at a turning point ?

Since the fall of early August the only potentially positive bar was #(1), closes well off its low... but but the very next bar, note the increase in its volume (abt 23%) and it doesn't move anywhere with its following bar then attempting to move higher on much less plus being relatively narrow in spread and closes off its high. It appears over those three weeks they simply paused the downtrend and then rolled out of the stock.

The next potentially positive bar was last week #(2), closes up off its low, with this current week doing even better, and they both did it on reducing volumes with this week even making a LL. At the very least this action should put it into some sideways movement or hopefully move it into a much overdue northerly direction. If in the future it does happen to return to this price area and does it on again much less volume/spread, that imo would be quite positive.

weekly

dyor