-Since the buy signal sparked in feb 2021, after the long time consolidation period, the stock has formed a top saucer pattern from march through june 2021.
-Stock made a peak in mid march and may before falling and made a rebound respecting the 1/3 speedline that served as a support.
-the recent trading day with the appearance of Marubozu has generated a buy signal from double crossover of EMA 5 and EMA20.
-The overhead congestion of the Chikou line imposing the biggest resistance for the time being. This confluence with the Senkou span A that is overhead the marubozu candlestick.Besides, the 2/3 speedline will also offer as resistance.
-Breaking above kumo cloud and the 2/3 speedline will put the resistance of the previous peak in perspective at range 0.345
-Overall i will take the stock as cautiously moderate bullish.Cautious are because of the top saucer pattern and because of the overhead congestion.Moderate bullish are because of the appearance of Marubozu accompanied by the expansion of volume and the current traded price falls in between the 1/3 and 2/3 speedlinesas as well as the buy signal given by the EMAs validated by the RSI reading that is more >50
-Support level is the 1/3 speedline.
*few other data are purposely not included as this is just purely a case study analysis,not a buy nor sell call.
-Stock made a peak in mid march and may before falling and made a rebound respecting the 1/3 speedline that served as a support.
-the recent trading day with the appearance of Marubozu has generated a buy signal from double crossover of EMA 5 and EMA20.
-The overhead congestion of the Chikou line imposing the biggest resistance for the time being. This confluence with the Senkou span A that is overhead the marubozu candlestick.Besides, the 2/3 speedline will also offer as resistance.
-Breaking above kumo cloud and the 2/3 speedline will put the resistance of the previous peak in perspective at range 0.345
-Overall i will take the stock as cautiously moderate bullish.Cautious are because of the top saucer pattern and because of the overhead congestion.Moderate bullish are because of the appearance of Marubozu accompanied by the expansion of volume and the current traded price falls in between the 1/3 and 2/3 speedlinesas as well as the buy signal given by the EMAs validated by the RSI reading that is more >50
-Support level is the 1/3 speedline.
*few other data are purposely not included as this is just purely a case study analysis,not a buy nor sell call.