SOS Update 5/9/2021 "DIVERGANCE"
Hello, it's been a while. Due to all the crypto craze during all of April, now rolling into May and the summer time, I wanted to give SOS a chance react.
With SOS earnings in sight, it pleases me to know there's opportunity at such a low price. The 3 month trend as seen above is a classic example of a bullish divergence. A bullish divergence can be easily described as a technical indicator where the price-action of an asset makes lower low's during a downtrend, and the technical indicator I am using MACD is making higher low's despite the stock's price action + volume is decreasing therefore consolidating. This behavior represents support.
This is not guaranteed but when a divergence indicator is identified, there are good odds that we'll see a reversal. I'm just curious how much SOS has been making by mining Ethereum, that's all.
(((Trade and invest with caution, and practice risk management always)))
As always, I will continue to observe SOS daily. Follow for updates.
With SOS earnings in sight, it pleases me to know there's opportunity at such a low price. The 3 month trend as seen above is a classic example of a bullish divergence. A bullish divergence can be easily described as a technical indicator where the price-action of an asset makes lower low's during a downtrend, and the technical indicator I am using MACD is making higher low's despite the stock's price action + volume is decreasing therefore consolidating. This behavior represents support.
This is not guaranteed but when a divergence indicator is identified, there are good odds that we'll see a reversal. I'm just curious how much SOS has been making by mining Ethereum, that's all.
(((Trade and invest with caution, and practice risk management always)))
As always, I will continue to observe SOS daily. Follow for updates.
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.