This is looking like a high probability trade setup. As long as there is no sudden rejection this week I think this one is in the clear to move higher. We may see a few days of consolidation, accompanied by candles with "scary" wicks, following the large price movement that we have seen thus far.
RSI breakout on the daily.
MACD zero line cross on the daily
On above avg volume(but see the note on the chart)
GMMA traders(Blue MAs) are compressed showing a move may occur soon(up or down; betting on up)
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RSI breakout on the weekly
GMMA traders and investor(orange) groups are converging. As the MAs compress the likely hood of an explosive move is high.
S&P IQ has a 5 star rating on them with a PT of $240. Additionally they are currently trading 16% below fair value according to their analysis. They have seen good growth(% wise for a midcap) in recent quarters, which can later be a good driver when the market is ready.
RSI breakout on the daily.
MACD zero line cross on the daily
On above avg volume(but see the note on the chart)
GMMA traders(Blue MAs) are compressed showing a move may occur soon(up or down; betting on up)
-------------
RSI breakout on the weekly
GMMA traders and investor(orange) groups are converging. As the MAs compress the likely hood of an explosive move is high.
S&P IQ has a 5 star rating on them with a PT of $240. Additionally they are currently trading 16% below fair value according to their analysis. They have seen good growth(% wise for a midcap) in recent quarters, which can later be a good driver when the market is ready.
Note
Note
Exited at break even. Wasnt playing out well
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-If you find this idea interesting please leave a like
-Follow for more
-Comments are always welcomed and appreciated
-Follow for more
-Comments are always welcomed and appreciated
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.