Hello traders,
I'd like to post my analysis on OGS with a more timely and actionable observation. While the consolidation range of $79.50 - $83.10 is still valid, a clearer entry signal has just presented itself.
Context: Following the significant breakout on the week of September 22, OGS has been in a healthy consolidation.
Key Observation: The stock has now pulled back to test the precise level of its former breakout resistance. This "resistance-to-support flip" is a classic bullish confirmation.
The Entry Signal: The most critical development is the formation of a strong bullish reversal candle precisely at this new support level. This price action indicates that buyers are actively defending this new floor.
Multi-Timeframe Confirmation: The significance of this signal is amplified as this reversal pattern is visible on both the Weekly and Daily charts.
I'd like to post my analysis on OGS with a more timely and actionable observation. While the consolidation range of $79.50 - $83.10 is still valid, a clearer entry signal has just presented itself.
Context: Following the significant breakout on the week of September 22, OGS has been in a healthy consolidation.
Key Observation: The stock has now pulled back to test the precise level of its former breakout resistance. This "resistance-to-support flip" is a classic bullish confirmation.
The Entry Signal: The most critical development is the formation of a strong bullish reversal candle precisely at this new support level. This price action indicates that buyers are actively defending this new floor.
Multi-Timeframe Confirmation: The significance of this signal is amplified as this reversal pattern is visible on both the Weekly and Daily charts.
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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.