What is so amazing about a chart that fell roughly 50% in 1 year?
What we're seeing right now is a textbook falling channel structure. In general a falling channel consists of 1 resistance line and 1 support line in which the price oscilates between.
There are 4 lines on my chart. I'd like to add an extra support and resistance line in order to create more clarity for short term trading. This basically creates a channel within a channel.
One other property of the channel is that the price oscilates down until it hits an important support. At that point the price goes sideways untill it breaks out of the channel.
Now intrestingly enough, DPZ created a double bottom. That double bottom fell at the support of the inner channel. This means that the last support hasn't been touched, indicating a new sideways period.
Lastly, the FETCH Buy And Hold Indicator fired off a buy singal at the first bottom. This is the first buy signal since the bottom of 2008.
Fore more information about the indicator, visit this page.
What we're seeing right now is a textbook falling channel structure. In general a falling channel consists of 1 resistance line and 1 support line in which the price oscilates between.
There are 4 lines on my chart. I'd like to add an extra support and resistance line in order to create more clarity for short term trading. This basically creates a channel within a channel.
One other property of the channel is that the price oscilates down until it hits an important support. At that point the price goes sideways untill it breaks out of the channel.
Now intrestingly enough, DPZ created a double bottom. That double bottom fell at the support of the inner channel. This means that the last support hasn't been touched, indicating a new sideways period.
Lastly, the FETCH Buy And Hold Indicator fired off a buy singal at the first bottom. This is the first buy signal since the bottom of 2008.
Fore more information about the indicator, visit this page.