$NEWR / Long
BULLISH
Is in a Stage 2 uptrend with price above a rising 30W MA.
Relative Strength is above its zero line.
Price moved up aggressively before consolidating for 31 trading days (just over 6 weeks).
The consolidation has seen price correct through a tight Downward Sloping Price Channel.
Price has seen move up and out of the DSPC and tightened up. There is a visible tight zone with narrow range and spread bars.
Price has retaken its zero ATR line.
Volume has been roughly average throughout the consolidation suggesting no big institutional selling.
The last two trading days (although these were the 22nd and 23rd of December show blue dots (40% less volume than average).
The last bar is an inside bar making it actionable on the daily timeframe .
BEARISH
Volume has dropped to anaemic levels.
Price is challenging all all time highs and the BO level of a 42 month consolidation.
Is in a Stage 2 uptrend with price above a rising 30W MA.
Relative Strength is above its zero line.
Price moved up aggressively before consolidating for 31 trading days (just over 6 weeks).
The consolidation has seen price correct through a tight Downward Sloping Price Channel.
Price has seen move up and out of the DSPC and tightened up. There is a visible tight zone with narrow range and spread bars.
Price has retaken its zero ATR line.
Volume has been roughly average throughout the consolidation suggesting no big institutional selling.
The last two trading days (although these were the 22nd and 23rd of December show blue dots (40% less volume than average).
The last bar is an inside bar making it actionable on the daily timeframe .
BEARISH
Volume has dropped to anaemic levels.
Price is challenging all all time highs and the BO level of a 42 month consolidation.
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