AAN - Bullish Pullback
Yesterday price bounced off the 200 MA which has shown to be a strong support line for the stock in the past. We have seen a strong rise in the OBV which indicates volume is increasing on upward price moves. The trigger for this was that the ADX was over 35, the current trend is up, and the Stochastic (8,1) fell below 30. I will enter the trade 1 tick above today's high, or above the lowest high if price continues to drop.
The only concern at this time is the divergence in the ADX, This just means the strength of the trend is weakening.
The only concern at this time is the divergence in the ADX, This just means the strength of the trend is weakening.
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