SETUP: BATS is setting up within a 2nd stage flat base visible on both the daily and the weekly charts.
BUYPOINTS:
The classic pivot is 34.43
The advanced pivot is 33.83
SUPPORT: Support can be seen on the daily chart along the 21ema. Note how it dipped below but recovered the 21ema on 12/23 and 1/3.
NOTES: On a breakout above the advanced pivot, I'd use 33 as my support level (yesterday's low and the low of the week). On both the daily and the weekly charts, I like that the RS line has held near its highs while it has consolidated. BATS has also passed my fundamental and momentum based scans in ChartYourTrade MRI.
BUYPOINTS:
The classic pivot is 34.43
The advanced pivot is 33.83
SUPPORT: Support can be seen on the daily chart along the 21ema. Note how it dipped below but recovered the 21ema on 12/23 and 1/3.
NOTES: On a breakout above the advanced pivot, I'd use 33 as my support level (yesterday's low and the low of the week). On both the daily and the weekly charts, I like that the RS line has held near its highs while it has consolidated. BATS has also passed my fundamental and momentum based scans in ChartYourTrade MRI.