Trend line support about to be tested. Bullish
Green trend line support about to be tested by price.
Stochastic (8,1,1) near oversold point at 20.
Price above volatility stop.
The only thing negative is the momentum negative divergence as seen on the charts Rsi and Macd indicators.
Market geometry takes precedence so I will buy at the trend line and stop out if price closes below the trend line. The price may need one more up/down cycle before price breaks out to the upside.
Ascending triangle measured move targets can be calculated from previous trend line support levels and current high breakout price.
Measured move targets= 1286, 1475
Happy Easter
Stochastic (8,1,1) near oversold point at 20.
Price above volatility stop.
The only thing negative is the momentum negative divergence as seen on the charts Rsi and Macd indicators.
Market geometry takes precedence so I will buy at the trend line and stop out if price closes below the trend line. The price may need one more up/down cycle before price breaks out to the upside.
Ascending triangle measured move targets can be calculated from previous trend line support levels and current high breakout price.
Measured move targets= 1286, 1475
Happy Easter
Penafian
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