BYH possible future The price channel is clear... We expect a drop in price and we can go long after the following price reduction ...
ASX:BYH
BYH trade ideas
Indicator patternsTA
-Strong trendline support, the 20 over the 50SMA confirms a bullish trend. The price moves upwards as the candle stick fills the gap in between both.
-RSI has support at 45.
-Momentum slightly starts to rise.
-Volume thins out.
All prior to a rally.
To sum it all up.
SP rallies only when volume thins out, candle sticks have filled the gap between 20/50SMA and momentum rises slightly before the RSI hits the 45 area. I also like that we had a small move upwards today with barely any volume, tells me the sellers are about done for now.
This is a textbook bullish setup imo.
Swing trade but will not be holding this for too long. My sell indicator will be when momentum hits the red line.
Thanks for viewing
