Looks like the price is retesting the channel support from 2014 before moving up. There is great confluence from 2019 when the price had its spring retest. SNAB RSI is showing bullish divergence on the daily chart and EMA is trading above the RSI.
This is one people have loved to short. There are probably a lot of sell orders that get filled quickly and then are going to be covered in short order. Great melt-up potential
This is one people have loved to short. There are probably a lot of sell orders that get filled quickly and then are going to be covered in short order. Great melt-up potential
Trade active
Comment:
Volume increasing over the past couple weeks. Still a good place to accumulate.
Comment:
Volume on the monthly candle SPIKED + we have a bull flag that retested + a bullish engulfing candle with increased volume. 1.60 is target for the bull flag. This is the top of the channel so there will be strong resistance. Most likely it will come back and retest the lows before continuing up, but it is possible it breaks out of the channel.
Comment:
These patterns looks very similar. Same bullish cross with the RSI and breakout of a long downtrend (if it breaks out of course)