1. Trend Analysis
Overall Trend: The stock has been in a downtrend since mid-2023 but is showing signs of a potential reversal.
Recent Price Action: The stock recently bounced from a support level around $35.59 - $37.43, indicating a possible trend reversal.
Moving Averages: The stock is trading near short-term moving averages, suggesting a consolidation phase. It needs to break above the key resistance levels (around $39.17 - $41.63) to confirm an uptrend.
2. Key Support & Resistance Levels
Support: $35.59 (recent low) and $37.43
Resistance: $38.09, $39.17, and $41.63
3. Indicator Analysis
MACD (Moving Average Convergence Divergence): The MACD is showing a bullish crossover, indicating potential upward momentum.
RSI (Relative Strength Index): RSI is near 52.13, suggesting the stock is approaching a neutral-to-bullish zone but is not yet overbought.
Volume: A significant increase in volume indicates strong buying interest, which supports the bullish case.
4. Divergence Signals
Bullish Divergence: The price made a lower low, while RSI and MACD made higher lows, indicating potential upward momentum.
5. Trade Setup
Long Entry: Above $38.09, with confirmation above $39.17.
Stop-Loss: Below $37.43 (as marked on the chart).
Take-Profit Targets:
First target: $40.79
Second target: $41.63
Further target: $44.30
Conclusion
Bullish Reversal Possible: The stock is showing a potential trend reversal with bullish divergence and increasing volume.
Breakout Confirmation Needed: A close above $39.17 would strengthen the bullish case.
Risk Management: A stop-loss below $37.43 is recommended in case the price fails to hold support.
Overall Trend: The stock has been in a downtrend since mid-2023 but is showing signs of a potential reversal.
Recent Price Action: The stock recently bounced from a support level around $35.59 - $37.43, indicating a possible trend reversal.
Moving Averages: The stock is trading near short-term moving averages, suggesting a consolidation phase. It needs to break above the key resistance levels (around $39.17 - $41.63) to confirm an uptrend.
2. Key Support & Resistance Levels
Support: $35.59 (recent low) and $37.43
Resistance: $38.09, $39.17, and $41.63
3. Indicator Analysis
MACD (Moving Average Convergence Divergence): The MACD is showing a bullish crossover, indicating potential upward momentum.
RSI (Relative Strength Index): RSI is near 52.13, suggesting the stock is approaching a neutral-to-bullish zone but is not yet overbought.
Volume: A significant increase in volume indicates strong buying interest, which supports the bullish case.
4. Divergence Signals
Bullish Divergence: The price made a lower low, while RSI and MACD made higher lows, indicating potential upward momentum.
5. Trade Setup
Long Entry: Above $38.09, with confirmation above $39.17.
Stop-Loss: Below $37.43 (as marked on the chart).
Take-Profit Targets:
First target: $40.79
Second target: $41.63
Further target: $44.30
Conclusion
Bullish Reversal Possible: The stock is showing a potential trend reversal with bullish divergence and increasing volume.
Breakout Confirmation Needed: A close above $39.17 would strengthen the bullish case.
Risk Management: A stop-loss below $37.43 is recommended in case the price fails to hold support.
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.
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.