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dorfmanmaster

Avnet uptrend retreat - Hammer @50sma

Long
Avnet, Inc. (NASDAQ:AVT)  
dorfmanmaster  
NASDAQ:AVT   Avnet, Inc.
Trend Analysis Chart Patterns Technical Indicators Relative Strength Index (RSI) sma50 sma200 Hammer technical trump XI tradewar
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trendanalysis chartpattern indicator relativestrengthindex sma50 sma200 hammer technical trump xi tradewar
AVT has been in a consolidation pattern since July 10th, with a bull technicals behind.

Last candle today is a hammer. Showing buyer strength when price fell to $43.6.

Technical data
  • Price just below SMA(50)
  • Price just above SMA(200)
  • RSI @56 trending higher
  • OBV confirming trending higher
  • Directional move index turned positive

If we can continue above the SMA(50); that would confirm the trend.

**I recommend not buying until we see Monday sentiment after Trump's meeting with Xi.



Happy trading!
dorfmanmaster
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