$DFIN / LongTHESIS
MARKET
NASDAQ in a confirmed uptrend, price above a rising 30W MA.
5 and 10 day breadth ratios above 1 suggesting demand in control.
12 week breadth ratio 0.78 but improving suggesting market in transition.
$VXN below 30.
STOCK
BULLISH STRUCTURE
Price above a rising 30W MA.
RS above the zero line, trending up and near ATHs.
Price moved 43% before correcting through price. Price corrected back to the 50 MA.
The total correction from ATH was 19%.
Price printed a higher low before breaking out of it's downward sloping price channel (DSPC).
Price has now formed a relatively tight low cheat.
Price above its ATR zero line.
The last 3 bars have been tight with narrow range real bodies. Price has also drifted down.
Volume has contracted with 3 blue dots and 1 red dot over the last 5 days.
RS is above the zero line and trending up (marginally)
BEARISH STRUCTURE
No significant bars within the base suggesting no institutional bid yet. Given the low cheat strategy this isn't unusual as prove current in the lower third of the base.
LAST 3 BARS
3x tight 'B' bars
1x red and 1x blue dot
ENTRY
Half position
DFIN trade ideas
DFIN: May want to watch for a break up.On the weekly you can see volume is up recently and it looks like it may be ready to break the long term downtrend line. Nice cup. We may get a handle next prior to a break of the long term trend line. Could wait for a close above the downtrend line. If you would go long now you could use a close below the recent low as a stop. (see daily chart). IFFFF is it does go up would consider about 12.5 as the target.
Numbering on the daily just for folks who like to count (EWT).
Take care. Have a great week.
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