This could bounce off the 200 day MA and move higher or first move lower (.50 and .90 support) and continue forming what looks to be a bit of a wedge while the market corrects. If the latter occurs, a breakout would constitute a move above the purple line.
Can also see the MACD looks potentially calling for a move lower.
Paying attention to accumulation as well, as it has picked up recently but mellowed out a bit.
Either way, I think I like this as a trade.
Can also see the MACD looks potentially calling for a move lower.
Paying attention to accumulation as well, as it has picked up recently but mellowed out a bit.
Either way, I think I like this as a trade.