Exiting downtrend and going on an uptrend
i hope the copy paste of my chart worked if not then just read this info.
Prev closes:
7.65
8.09
7.88
7.95
8.02
today possibly 8.08
One thing this chart is indicating is that we will have a breakout soon. Based on the previous closes, its indicating that's starting to pick up. Moving average and buying volume is also starting to pick up. We also started to break a few resistances: at 7.95-8.00 and hitting 8.20 a few times now. Next tough wall to break is 8.25-8.30 (which we are facing right now). It's similar to the one we faced 2 weeks ago when i said we need to break the 8.30 mark and we did.
I'm saying a breakout will happen soon because it seems we hit a consolidation period for the past 3 days where we stayed around the same price range. So expect it in the coming week. My suggestion is Buy. I bought in at 7.37, 8.08, 7.73, 7,89 and recently 8.00
Good luck trading.