After low momentum and low volatility. The green candlestick might suggest an entry possibility.
The price breaks the 20SMA and touched the outer band.
The hammer doji, confirms a possible reversal trend after long consolidation phase and following a downtrend confirmed by the coronavirus fear.
I would however wait for a breaktrhough of the RSI resistance line, at least a 57 RSI to confirm an entry position ( considering that the support is around 45). RSI is a solid indicator to confirm a trend strength or reversal.
As long as the 9MA price isnt crossed downward, we would still consider the possibility of an upward trend.
Thank you for letting me know your thoughts
The price breaks the 20SMA and touched the outer band.
The hammer doji, confirms a possible reversal trend after long consolidation phase and following a downtrend confirmed by the coronavirus fear.
I would however wait for a breaktrhough of the RSI resistance line, at least a 57 RSI to confirm an entry position ( considering that the support is around 45). RSI is a solid indicator to confirm a trend strength or reversal.
As long as the 9MA price isnt crossed downward, we would still consider the possibility of an upward trend.
Thank you for letting me know your thoughts