1D. ADX still in a very strong trend (57.8) however, there is growing strength with the bearish directional movement.
Wave trend still showing the stock to be at overbought levels. RSI showing bearishness, with a downward release just occurring.
MACD seemingly wanting to convert into a negative state.
The Chaikin is still negative but neither drastically...
Unless something fundamentally changes the stock isn't looking healthy. Low volume signaling a large movement about to occur within a bearish descending triangle and with the stock trending under 200 EMA. This is after completing a bearish H&S pattern. However, it is to be noted that the SMAs are building towards bullish momentum, so a close eye must be maintained...
Unusual activity of late, with AVZ dropping below the main trend - an unexpected occurrence. Currently heading to test resistance at 21c if it can make 19c a strong support. Currently BO out of a bullish ascending triangle, with Wave Trend showing continual upward movement, EMA Wave also showing upward momentum. However, the Weis Wave is showing a lack of demand...
The current MOU announcement has spiked the share price up, which has temporarily quelled the descending triangle break and halted the downward momentum seen on the Wave Indicator (dotted blue line). However, upon closer inspection, the spike itself is showing signs of weakness (MMAR reversal in spike). Oddly, a trading halt was announced the day after such...
Volume decline and the formation of a heads and shoulders pattern, with corresponding MMAR showing signs of reversal. If complete, signals a decline towards EMA 200.
Expect a further slide down the large bullish wedge into more probabilistic BO zones (as indicated by green projection area within the wedge), then trend reversal that moves within the trident. The current movement is a completion of a bearish ascending wedge, which correlates with a continuation of the downward trend. The VFL shares the current bearish sentiment...
MMAR beginning to compress, which signals a large movement is due - signals are going green for an upward jump. RSI in the oversold territory confirms this. The lab gold assays to be returned within a 1-2 week range. A large BO should occur.
The stock has been on a long and large bearish journey down a descending broadening wedge, however, it has begun showing the telltale signs of reversal as seen through the MMAR upward swings. Currently, it's undergoing a steep broadening descending wedge, which I suspect will bounce off the 50% fib at 46c. Just needs the volume.
Ascending Wedge shape (light blue) formed, which may indicate a continuation of the overall bearish Descending Wedge trend. MMAR struggling to contain the bear, even when RSI is oversold. Unless new's is released to change sentiment down she will go.
If it keeps to the trend, it will drop further down the wedge over the next 7 days, potentially breaching, $6000. Watching for a unified historical Bollinger Band break (highlighted in blue rectangles) and RSI oversold signal for a potential BO event in the coming months. GLTA
