Did SHOPify break out of a bull flag?
1) Bullish open & close candle above the trend line
2) MACD bullish (though the histogram is slowing)
3) Force Indicator is bullish
4) RSI is not overbought or displaying any signs of bearish divergence
5) Parabolic SAR is bullish
6) 20 EMA is greater than 40 EMA indicating a bullish trend
7) 50 EMA is greater than 200 EMA also indicating a bullish trend
8) HOWEVER - is the price breakout overextended from the 20 EMA? Might it pull back? Is this a false breakout?
1) Bullish open & close candle above the trend line
2) MACD bullish (though the histogram is slowing)
3) Force Indicator is bullish
4) RSI is not overbought or displaying any signs of bearish divergence
6) 20 EMA is greater than 40 EMA indicating a bullish trend
7) 50 EMA is greater than 200 EMA also indicating a bullish trend
8) HOWEVER - is the price breakout overextended from the 20 EMA? Might it pull back? Is this a false breakout?