ASHR quietly surpassed April high ($24.86 vs. $25.03) and I think it is ready to challenge the 40 week MA and the red resistance line ($26 level). The bullish case can be confirmed once it is able to close above the red resistance (if that happens, $37 is possible).
So far so good. Might be working on a retest but as long as the blue support holds, I am fine with it. Good chance next stop is $26 area.
the chart seems to suggest China A share ETF is on the verge of major trend change (bias toward going higher). Given the mess in Europe and valuation in the US market, emerging market in general is appealing. Stay tuned.
I don't usually read much from daily patterns. This one is just for fun. It is going to break the lower bound of the sliding channel any time soon. But before that, it can temporarily go up a little bit.
It has a reverse head and shoulders, broke out, retested the neckline and now broke out again. RSI and MACD look great. I think next target is $26.8.
Might be targeting $26.8 level (and even that is still far from .236 Fib, which is $29.50 level) RSI breaking out and MACD is close to be positive.
Looks like it wants to turn. Worth paying attention in the next several weeks.
The setup from the right shoulder was perfect, and $ASHR did not disappoint cutting right down through the neckline. My 22 target is near.
This chart is demonstrating a classic bearish head and shoulders pattern long term. The neckline is pointing down, which is even more bearish. Target $22! Look out below.