Since end January we are trading within a broad range between 71 and 78. Now we have reached the bottom again and may expect another upward retracement . Yes, the trend is still downward and cautiousness is required. Perhaps it will take some more days to confirm a possible bottom here. But a retracement up would indicate the readiness for such a bottom.
The candlestick formation that has been build past week looks like an Abandoned Baby. However the higher opening today has been sold immediately. This means tome that the market is not convinced of rising prices. As well the Baby is not convincing as it does not stand at the end of a real downtrend. In my opinion the decline from the last March week till now is to...
... but not this time. We are in sideward mode. And our friend should not help us. But the overall market today was a jump down. And in this respect Tesla held not so bad. as it managed to recover from today's low and the one year old bottom has not been touched. That's why I think that Tesla may have the potential of a minor correction upward now. There is a...
After the short from March 7th until March 20th we saw a rebounce. It has reached more than 50 % retracement now and I think that it is worth to play the downside again.
Since end of December we are in a downtrend and since 19th March we are trading within a range. At the end of March we started a test of the top of the range but failed to exceed it. Today it looks like if we are gaining downward momentum again. The trend suggests that there are more chances to see lower prices.
The February bottom had been broken on the 29th. But now 1 week ago we managed to regain the entrance into the previous range again. The reversal I take as a signal of predominating buying interest now.
We have retraced the mid February decline by 38 % now. Close to an open downward window with a channel that has turned downward already I assume that we will leave the recent trading range to the downside soon.
The impressive correction 3 weeks ago of the little attempt to resume the long lasting decline since end 2020 is a signal that the market is still not convinced in a coming rebound of Ocugen. We have just retraced the last branch of the downtrend which had lasted from July 2022 until the end of October 2023. Thus it may be a good time to find out the chances of...
On Thursday we've exceeded the over 2 months old trading range, made a little correction and opened a win dow today. For me this are clear signs of a beginning rise . As we had built a broad bottom after a steep fall that had lasted for over 2 years there is a potential for some bigger rise.
The second big downturn had begun on March 4th. It has been retraced today. As we saw a second corrective downwave of the long rise since January I expect another corrective move down now to test the bottom of January 31st again. It will intensify when the (red) MA is broken.
On January5th we'd retraced the uptrend the first time and finished the attempt to change the trend on January 17th with another just retracement. The rise that has followed after this failed attempt has been corrected by over 38 % just today. I consider the trend being still positive and expect another attempt to rise within this week.
There is momentum at the moment. :-) Thus it may be done with it and no major correction downward will follow before the rise may resume. And outbreak at the top of the range may make it clear. Stops are essential.
We have reached a 6 year old bottom now. There is room for a bigger correction. Whether this will take place immediately is not sure. At least the likelihood for a rise is bigger now.
With its bottom on November 11th we can see a cup bottoming sharply and reminding almost already at a V-formation. Nevertheless there is a long handle from end November until end January that had been exceeded and is to be retested now. Of course the price may come back to the top of the handle but in respect of the deep cup there is a chance of a large gain that...
We are far from all relevant Moving Averages, have overcome the all time high and begun a correction. I see a substantial room for a decline now as we have risen to land and to fast since December.
We are slowing down a little bit today. I think that this is due to the option expiry tomorrow. Then, I think, we may rise a bit further. The market is overbought for a while but any attempt to correct has been bought so far.
Within a Fibonacci support zone we are building a bottom since January 17th. As the decline is old already and the Chinese economy is not as unhealthy as, say, the European ones I expect a breakout of the range within the next few days with an end of the downtrend.
The window that has been opened on January 12th has been closed on 24th January already. This rise has been retraced on February 2nd. Then we saw a Reversal island. The small candles yesterday and today so far are indicating that we are fighting to build a bottom now. On top there are no real resistances. The former bottom of January 3rd had been broken on the...