MAERSK Uptrend
TREND
According to the wave structure, it is still in the downtrend
However, head and shoulders formation is a powerful reversal indicator.
It also formed a blue channel, now targeting the upper band
Moving Averages
20-day (Red) crosses 50-day (Orange) from down to up (powerful indicator supporting uptrend)
100-day (Turquoise) is below the current price (so supports uptrend)
200-day (Blue) is right below the current price (it becomes support now)
SUMMARY
Based on this analysis, a price action following the blue arrow is highly probable.
According to the wave structure, it is still in the downtrend
However, head and shoulders formation is a powerful reversal indicator.
It also formed a blue channel, now targeting the upper band
Moving Averages
20-day (Red) crosses 50-day (Orange) from down to up (powerful indicator supporting uptrend)
100-day (Turquoise) is below the current price (so supports uptrend)
200-day (Blue) is right below the current price (it becomes support now)
SUMMARY
Based on this analysis, a price action following the blue arrow is highly probable.
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.
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.