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A big fall this week.
Broke through weekly 50 EMA and heading towards its 200 EMA.
Will it break that and head into a downtrend?
SSl recently has been recovering from a market correction. However, even tho the coppock curve and the ADX are saying this could be a buy, I see a hammer candlestick forming. This shows that the prior trend could be changing. So, I put a short position below the 50 MA. Also, volume seems to be decreasing.
The 200 MA is providing resistance and the 50 MA is providing support. This is most likely a flag pattern, and the ADX is about to go green so will most likely be bullish. But, since the earnings report is coming out today, I have chosen to create buy and sell orders.Also, due to past earning reports the volatility is very high so I expect the same to happen.
This stock loves bouncing up from 50 day moving average. RSI is just above 50 and Money flow seems like going to reverse back to buying territory - did not stay much in selling really.