Civic has been trending downwards, but ADX shows no signs of a strong trend. Low volume supports that. Stoch RSI is showing it has been oversold for quite some time now, but more importantly, despite the price going visibly down, the on volume balance shows a small uptrend. This lack of change in OBV is a sign of a possible breakout.
The shaping pennant pattern, pointing downwards, is often associated with an upward breakout.
The price has already retraced more than 60% from the peak, and there is a good chance there will not be an opportunity to buy lower than this. Time wise, the decision to invest must be made around the yellow circle, which it makes it 12-18 hours from now.
Thoughts? Have I overlooked anything?
The shaping pennant pattern, pointing downwards, is often associated with an upward breakout.
The price has already retraced more than 60% from the peak, and there is a good chance there will not be an opportunity to buy lower than this. Time wise, the decision to invest must be made around the yellow circle, which it makes it 12-18 hours from now.
Thoughts? Have I overlooked anything?