The stock has been silently resisting the downfall also known as Relative Strength and that is where usually the next leaders emerge from. In a conducive market, such stocks are off the fences. Could this emerge as a probable new leader once things settle down and the market turns for the good? For now, it has given a good break out and with other auto names...
WTI Crude is finally breaking out from what seems to be a very very important resistance zone, with Energy stocks already showing strong Relative Strength globally, this could be the cherry on the cake for what lies ahead with Crude. From a tight range is a break out happening which is a very good pivot point to take advantage off here.
Good tightening week on week after a large pop up with a dry up on them volumes setting this up for a new leg. Will be interesting once it breaches the previous week high and manages to give a daily close above it
The volume prints are evident in this counter on the up days. It has Institution accumulation written all over it, just a matter of time before it pushes off from this range and starts having a crack towards new ATH.
The stock appears to be coming out a good 9 week base on good volumes, signalling a low cheat entry here the stock has the potential to do more. Have a risk of 4% from here, it appears to be in a good zone to warrant an entry
The stock seems to have given a pocket pivot signal closing at the higher of the tight squeeze it is forming after the huge gap up it had a while ago, one can say it is a flag and has given a good signal of intent in the coming short term. The risk reward will have to be carefully managed in this one!
The stock has been wounding up and its volatility has been contracting in every wave setting it up for some good future price action! Also notice how the volumes have simply dried up, if you know VCP then here are the parameters for this one! ---> 18W 24/5 4T