1. Pattern break 2. Volume Pick up 3. Good Relative Strength
1. Relative Strength 2. Volume Pick up 3. Pattern Break 4. 52 Week High
1. Relative Strength 2. Volume Pick up 3. Pattern Break 4. 52 Week High
1. Relative Strength 2. Volume pick up 3. Pattern Break 4. 52 Week High
A typical Flag & Pole Breakout! Explanation inside chart.
Many technical reasons! All mentioned on the chart!
After a heavy volume selling, volume is seen decreasing with a rising wedge/rising channel. This shows probable consolidation before the selling trend resumption! There is also a near bearish engulfing pattern seen the day before!
1. 100 SMA support 2. RSI positive divergence 3. Falling Wedge 4. Hammer pattern offering a small risk to high reward setup Sometime we jump the gun when opportunities knock & if the risk is very minimal!
20 SMA SUPPORT + HAMMER + BULLISH TREND