ASX: Galaxy Resources
Factors
1. Price has broken out of the recent ST downtrend (22/05/19 - 02/01/20)
2. There is a bullish candlestick printed with decent volume where price broke the recent downtrend (02/01/20)
3. Price made a higher low of 84c (06/12/19)
4. There is a gap at $1.29 which I would be looking to target.
Possible Reasons For Failure
1. Momentum may fade and continue downwards.
2. 13/48 EMA doesn't crossover, however it is slowly converging
1. Price has broken out of the recent ST downtrend (22/05/19 - 02/01/20)
2. There is a bullish candlestick printed with decent volume where price broke the recent downtrend (02/01/20)
3. Price made a higher low of 84c (06/12/19)
4. There is a gap at $1.29 which I would be looking to target.
Possible Reasons For Failure
1. Momentum may fade and continue downwards.
2. 13/48 EMA doesn't crossover, however it is slowly converging
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.