A number of bullish signs for ETC: increasing On-Balance Volume, MACD turned positive, and we have a bullish crossover on the 5 and 12 period EMAs. RSI hovering around 60. Looks like a potential buy, but the 50-day EMA has been acting as strong resistance. If I were looking for a quick scalp, I'd sell right on the 50 EMA. Instead, I'm waiting for a close above the 50, which in my mind would be a good sign of potential moves to the upside in the medium term.
Any strong move to the downside invalidates all of this.
Any strong move to the downside invalidates all of this.
Comment:
Still holding on to this. So far so good.