RBLBANK changing trend.The stock is showing a pattern of change in trend, with a consistent upward movement characterized by traditional higher highs and higher lows. Compared to the previous movement dynamics, it now exhibits bullish behavior.
Basis of Analysis:
1. EMA Support Seeking (35 EMA):** The stock is finding support at the 35 EMA, indicating a significant level for the monthly timeframe.
2. Change in Market Structure:** There is a clear shift in the market structure from lower lows and lower highs to higher highs and higher lows.
3. Constant Volume Decline:** Typically, after a certain period of volume decline, there is an outburst of volume, which may signal a strong bullish movement.
Therefore, these factors suggest a potential bullish movement in the near future.