Dears,
If we assume(speculate on) that we are already in a bear market, following the high recorded on February 19th, then:
I will be looking for signs for bearish reversal starting from 2940(horizontal resistance) up to 3024 (next horizontal resistance)
This area includes the confluence of the 200 days exponential and simple moving averages as well.
If we reach there, the percentage of shares above their 50-days moving average(top panel) will probably hit 75 percent and above. Which is a considered an overbought signal. Meanwhile, RSI will probably be overbought as well.
These overbought signals are reliable ONLY if we are in a downtrend, or a sideways market.
Trade with care and stay safe
Technician
If we assume(speculate on) that we are already in a bear market, following the high recorded on February 19th, then:
I will be looking for signs for bearish reversal starting from 2940(horizontal resistance) up to 3024 (next horizontal resistance)
This area includes the confluence of the 200 days exponential and simple moving averages as well.
If we reach there, the percentage of shares above their 50-days moving average(top panel) will probably hit 75 percent and above. Which is a considered an overbought signal. Meanwhile, RSI will probably be overbought as well.
These overbought signals are reliable ONLY if we are in a downtrend, or a sideways market.
Trade with care and stay safe
Technician
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免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。