Long
IIVI. Possible continuation.
Stocks was in consolidation about 2+ years, after breaking out of 2 years resistence the price was retest it and than go up.
On weekly and daily charts looks like bull flag was forming and broken out.
On weekly there are two high demand bar (highlighted) and new week opening with gap up on volume increasing.
The price on strong volume bouncing twice from resistance which are 61.8 fib and 200MA and brake out upper flag line with volume.
Possible bullish scenarios 1) continue upward move, 2) small pullback to 20 MA's area and forming some kind of handle of C&H.
Not a recommendation, just an observation.
On weekly and daily charts looks like bull flag was forming and broken out.
On weekly there are two high demand bar (highlighted) and new week opening with gap up on volume increasing.
The price on strong volume bouncing twice from resistance which are 61.8 fib and 200MA and brake out upper flag line with volume.
Possible bullish scenarios 1) continue upward move, 2) small pullback to 20 MA's area and forming some kind of handle of C&H.
Not a recommendation, just an observation.
Note
Correct picture with weekly and daily is below.
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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.