Decent Bounce Off Weekly Trend
Posted recently that monthly chart is at a key RSI divergence point. Was neutral during that post, waiting to see what happened in shorter time frames.
This past week, we tested and bounced decently off a weekly price trend. Taking a closer look, the bounce paused due to a key price trend on the daily chart. Assuming we see continuation on Monday (closing over $1.51), that would appear to be setting up bullish divergence on daily, weekly, and monthly.
Personally took positions by writing short term calls and took on a few deep ITM leap calls.
This past week, we tested and bounced decently off a weekly price trend. Taking a closer look, the bounce paused due to a key price trend on the daily chart. Assuming we see continuation on Monday (closing over $1.51), that would appear to be setting up bullish divergence on daily, weekly, and monthly.
Personally took positions by writing short term calls and took on a few deep ITM leap calls.
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