EDELWEISS - Setting up for a good up move?One more interesting chart for study. This stock was pushed down from the top by almost 50%. As you can see, as the stock was dropping, the buy waves were getting stronger and stronger and they started dominating. As you can see, now it seems to be on the recovery path. It has gone above the supply line and moved past the short-term moving averages and also the 200 DMA. We can see marked increase in the buying pressure. Also, there is a very good volume support coming here. The Relative Strength and Money Flow are positive. Now we can see that there is a break of structure in both daily and weekly as well. The stock seems to be getting ready for a good up move and could see 140 levels as a minimum. But at this juncture, we could see a retest of the 200 DMA levels before moving up further.
