3-Jan-2024 : Keeping it Simple with Price Action and Technical Analysis
One Output of my Weekly Momentum Screener today - EXR. My target stocks are those that have been in a downtrend and showing good momentum that "may persist" for a nice swing positional trade. I am testing my screener outputs, and appreciate any feedback/suggestions. I may or may not own these stocks and my analysis can have errors... so by default.. DYOR.
Let's see what I can see on a Daily EXR chart.. * It was in a downtrend since mid-May'23 * Around .092 is a RESISTANCE zone area, that has been tested and failed a few times ( RED arrows ) * It found its rock bottom around .060 in Sep-Oct'23. Since then, has been making higher lows * It breached the immediate resistance zone and had a "healthy correction" back to where the support swing was just prior. * For the last few days, has started to show momentum and strength, and picking up to again retest the resistance zone. * The Cup & Handle formation [ in BLACK ], with the stock now at the neckline.
The probability now is higher for it to successfully retest the immediate resistance zone and if it can hold and cross successfully .110, then the next target to look for can be around .130.
EXR Price at posting:
9.2¢ Sentiment: Buy Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
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