Following my previous post, the chart is looking better than ever IMO.
Weekly chart Daily Chart
On the weekly charts:
- MACD has crossed over - the last time it crossed over, the SP ran from roughly 30c to >$4 (>1000%). Although I am not expecting it to run this hard, I do expect some decent gains to be made in the coming weeks with some pullbacks.
- Weekly volume beginning to pick up, reversal of previous trend is confirmed
On the daily charts:
- As @SwingTheory stated, we have gotten a Marubozu candle. The kinds of returns we saw from previous Marubozu candles, we can expect the next couple of days to be good.
- RSI isn't in overbought territory just yet, hence has some room to run further - If the run continues, I do expect a slight pullback to occur which is healthy in the long run.
- Higher volumes on the green days than the red days - indicates to me that there is more buying than selling occurring
- The moving averages still have not come into play just yet, but I do expect they will form a strong form of dynamic support in the near future.
- 2.65-2.71 seems like a decent buying price if there is a slight pullback in the next few days.
All of this is in my opinion and is super biased! Make sure to do your own research.
Any suggestions to improve would be much appreciated.
Cheers guys.
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Last
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Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
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2 | 2659 | 2.920 |
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