TSBX Break Out
This is one of the most bullish charts that I have seen in quite some time:
1. Price has been trading in a tight range since March of this year. Testing support and resistance several times in that period. With the POC at $2.67
2. The confluence of several bullish signals in the circle: 50 SMA is approaching the 200 SMA from below setting up for a Golden Cross. The most recent candle closing at the .38 Fibonnaci level which coincides with the break out from the descending trendline (with increasing volume)
3. RSI is increasing but more importantly the trend indicators are signaling the beginning of a new up trend with D+ crossing D- from below and the ADX increasing which signals a strengthening trend. Confirming this is the Congestion Index breaking 20 from below.
Target 1: $4.63
Target 2: $5.75
Target 3: $7.50
Stop: $2.53
1. Price has been trading in a tight range since March of this year. Testing support and resistance several times in that period. With the POC at $2.67
2. The confluence of several bullish signals in the circle: 50 SMA is approaching the 200 SMA from below setting up for a Golden Cross. The most recent candle closing at the .38 Fibonnaci level which coincides with the break out from the descending trendline (with increasing volume)
3. RSI is increasing but more importantly the trend indicators are signaling the beginning of a new up trend with D+ crossing D- from below and the ADX increasing which signals a strengthening trend. Confirming this is the Congestion Index breaking 20 from below.
Target 1: $4.63
Target 2: $5.75
Target 3: $7.50
Stop: $2.53
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