A2M Class A Bullish Divergence Evident on Weekly Chart
Hello,
Obviously A2M is in a significant downtrend for some time now. As seen on the MACD (green line on MACD) we are seeing a loss of bear power and on the chart we are still in downtrend (red line on chart). This is an evident Class A Bullish Divergence, also on the Stochastic we can see the stock has been in the oversold area for a since September 2020. Additionally, the fundamentals for A2M have been great. No debt, making profits and still expanding in some others. (Daigou channel still hurting but I don't think it will break the company.) Now I'm not saying that we will see a trend reversal just yet. However I think we are very close to a trend reversal, possibly 4-12 weeks away. I can't see anything tradeable at the moment but I am keeping and eye for a potential bottom and trend reversal on this. I am interested in your views.
Thanks for reading :)
Obviously A2M is in a significant downtrend for some time now. As seen on the MACD (green line on MACD) we are seeing a loss of bear power and on the chart we are still in downtrend (red line on chart). This is an evident Class A Bullish Divergence, also on the Stochastic we can see the stock has been in the oversold area for a since September 2020. Additionally, the fundamentals for A2M have been great. No debt, making profits and still expanding in some others. (Daigou channel still hurting but I don't think it will break the company.) Now I'm not saying that we will see a trend reversal just yet. However I think we are very close to a trend reversal, possibly 4-12 weeks away. I can't see anything tradeable at the moment but I am keeping and eye for a potential bottom and trend reversal on this. I am interested in your views.
Thanks for reading :)