This particular stock has been on an upward momentum. It is inside an upward channel. The upper resistance line and the 20 EMA are the acting
upward channel for this particular stock. MACD and Force index indicates a bullish momentum.
It may be reaching its distribution phase soon once it bounces back to the support line and a bearish candle confirms it.
If not, I may be able to earn 50c/share for this stock. I would only buy a few shares because of the low trade volume.
The risk is moderate. It is also important to note that the MACD is reach lower highs signaling that the buy-off is almost over and the bears will soon come in.
upward channel for this particular stock. MACD and Force index indicates a bullish momentum.
It may be reaching its distribution phase soon once it bounces back to the support line and a bearish candle confirms it.
If not, I may be able to earn 50c/share for this stock. I would only buy a few shares because of the low trade volume.
The risk is moderate. It is also important to note that the MACD is reach lower highs signaling that the buy-off is almost over and the bears will soon come in.