Weekly chart is being shown but I will summarize key bullish points on the daily as well.
General Note:
Found support at the 236 retracement($2.19) of the last low to high. This means alot of paper hands have exited.
If this did not hold it would be bearish.
Price is above a downward Trend line. We need to see this trendline broken on the daily chart and established as support.
Even better if we can weekly candles to do this in the next few weeks.
The orange areas are supply/demand zones at time frames lower than the daily but greater than and equal to an hour.
The red and green areas are supply/demand zones at the daily or higher. You need to see the orange zones
broken on the daily and established as support. The first red zone is the first boss. We need to get
through that and make it support to ensure this trend is changing.
It probably needs to happen soon because I expect to encounter resistance at the 200SMA on the weekly time frame
and I would like that resistance to be above that supply zone.
Weekly Notes:
The 8EMA crossed the 21 EMA on the weekly. It came down and touched the 21 and bounced.
This has not happened in the last four years I have been following this stock.
The 13 weekly EMA is equal to the 48 and if price stays above 2.40, it will cross it on the weekly.
The 30 Weekly SMA has leveled and is starting to point up. See Weinstein method.
Next thing I am looking for is the 30Weekly to cross the 50 Weekly and for the weekly 50 to level out and point up
Daily Notes:
13EMA has crossed the 48 EMA. This is generally bullish when both are not pointing down.
50SMA has crossed the 200 SMA
Broke above 200SMA Daily. Need to see a pull back and prove it's support.
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