It has formed a stage 2 Basing formation of around 25-26 weeks, ideal basing characteristics. Stock is already in stage 2 ( uptrend ) fulfilling moving average criteria price above 200MA & 150MA above 200MA
Wait for breakout from the pivot before initiating long.
Wait for breakout from the pivot before initiating long.
Comment:
Did not breach the pivot to initiate long, forming a volatility contraction pattern. Good consolidation seen, stock still strong. Will wait for breaking pivot high to initiate any longs.
Comment:
Today gave a close at day high on swing pivot, can initiate long now!