Signs to note:
If we don't hold the current support, the next stronger support would be $32, and would complete the bullish bat formation (and then push up). This would change the formation from a symmetrical triangle to a descending one I would think. Still overall bullish because of OBV, but TSV is pointing signs that the goals of shorts would be at least $32 short-term. Comment if anything seems amiss!
- Bullish bat forming. Currently on move to leg D. PT $32
- 200SMA on daily, PT $32
- TSV below 0 indicating selling/distribution pressure.
- OBV still inflated, indicating buying pressure.
If we don't hold the current support, the next stronger support would be $32, and would complete the bullish bat formation (and then push up). This would change the formation from a symmetrical triangle to a descending one I would think. Still overall bullish because of OBV, but TSV is pointing signs that the goals of shorts would be at least $32 short-term. Comment if anything seems amiss!
Note
Bullish Bat completed. Hit SMA200 as predicted.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.