AMWL Bullish Engulfing
D+ recently crossed D- on the ADX signaling a change in trend. In addition MACD is indicating that momentum is increasing and the most recent candle closed making a Bullish Engulfing candle with heavy volume.
The close also broke above:
the descending (weekly) trend line
the 200 MA and also the the .78 Fibonacci level.
The confluence of these bullish signals in itself is very bullish.
After consolidating in the $3-$4 range I believe AMWL is setting up for a prolonged rally .
Targeting: $6.17, $9.12, $11.80
The close also broke above:
the descending (weekly) trend line
the 200 MA and also the the .78 Fibonacci level.
The confluence of these bullish signals in itself is very bullish.
After consolidating in the $3-$4 range I believe AMWL is setting up for a prolonged rally .
Targeting: $6.17, $9.12, $11.80
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