Crystal Ball Analysis Again! Were You With Me? Stellar! (XLR)

Is technical analysis incredible or what? I haven't moved the "Possible Target" label at all, and Stellar fell to it exactly. The accuracy of good chart reading never ceases to amaze me. Whoever you're following, forget them. Stick with me people. I will be your guiding light. As we can see, stellar had a sharp rally after falling to the 200 EMA (in purple.) It pierced the top of the ascending broadening wedge formation (blue dashed trendline,) as well as the 50 EMA (in orange.) Additionally, there has been a bullish cross on the MACD (green circle.) However, price action has fallen back into the wedge, and appears to be forming an inverted hammer candle. If XLM can get above the 50 EMA and back above the dashed blue trendline, the selloff in Stellar may be complete. I would wait until those conditions materialize, before taking any new long positions in XLR.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-JD-