Long Swing
in GDI im looking for the trend continuation in the weekly chart the chart closed above the 20MA which is what i use for to make sure the trend will continue nothing under 20 on the weekly. this stock need to close this week above the 20MA. in the daily chart the stock pull back to the 50MA and is tarting to show candles of down side exhaustion, nice hammer in no high volume. which mean it might have a reversal the stock options right now is at 33.39 There is no volume high volume on the downside the stock looks like is a profit taking on the 52week high it have no bad news and show no high volume candle to the downside. (the trend is resting) in my eyes i might have a reversal which im willing to follow through on high volume reversal to the upside and pick up the trend again. of course the market sell of dragged down so it looks like is selling of but is not in my eyes.
in GDI im looking for the trend continuation in the weekly chart the chart closed above the 20MA which is what i use for to make sure the trend will continue nothing under 20 on the weekly. this stock need to close this week above the 20MA. in the daily chart the stock pull back to the 50MA and is tarting to show candles of down side exhaustion, nice hammer in no high volume. which mean it might have a reversal the stock options right now is at 33.39 There is no volume high volume on the downside the stock looks like is a profit taking on the 52week high it have no bad news and show no high volume candle to the downside. (the trend is resting) in my eyes i might have a reversal which im willing to follow through on high volume reversal to the upside and pick up the trend again. of course the market sell of dragged down so it looks like is selling of but is not in my eyes.