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Bullish Liquidity grab yesterday at low of 1221. Yesterday was a bullish Japanese candlestick, spinning top(open and close within 12% of candlestick price range). Today the low broke below yesterday close briefly, at 1223.5, implying professionals loading up on cheaper sp. Sp, has now risen above yesterday high, implying further upside. Price is now above the key price of the previous equity trough, which is positive.DYOR.
Sp, requires to close above weekly bar high of 156, weeks 9/9/24 & 16/9/24, to print a new close high. Otherwise there is some overhead supply from previous trading at the preceding peak to overcome above 156. DYOR.
Bullish cup and handle chart formation. Sp, dropped towards the order block zone, on reduced volume, increasing the probability of a decent risk reward position. RSI(relative strength index) is above 50 on time frames daily, weekly and monthly, indicating uptrend is intact. DYOR.
Yesterday bearish outside(high greater than previous bar and low less than previous bar) bar. Unless sp, can break above 38.8, high of outside bar, RSG could drop towards rising 20 day moving average, at 34. Bearish weekly RSI(relative strength index) negative divergence targets 34. Short term daily RSI negative divergence and bearish failure swing(RSI crossing below recent trough) bring additional confirmation of downside. DYOR.
Bearish daily outside price bar yesterday, implying downside. Weak volume today on the rally is bearish and does not support a break above 160. Bearish negative divergence in the RSI(relative strength index), implies downside in CRN. Sector fell today, so no underlying sector support. DYOR.
Bullish outside(high greater than previous high and low less than previous low) daily price bar of 19/9/24, enables a sp, target price of 390.5. Adding to the significance of the outside bar, is the previous day, was a Japanese doji bar(open and close equal). Sp, is above the down trendline from 29/7/24, which is bullish. Sector is down today, so OXB shows relative strength. Bullish RSI(relative strength index) failure swing (RSI cross above recent peak) supports the current breakout. DYOR.
Bullish qtly outside (high greater than previous high and low less than previous low) price bar, quarter ended Dec23. Projected sp, target 50.5, from adding outside bar range x 2, onto high. Bullish RSI(relative strength index) failure swing break on qtly and daily charts. Six month (23/3/25) sp, target is 106.75, from qtly bullish RSI divergence. DYOR.
Sp, has almost cleared overhead supply from previous trading, November 2022, so little or no resistance to new recent high. Bullish RSI(relative strength index), failure swing on the daily, weekly and quarterly charts. Old highs, project sp, target of 100. Volatility based Bollinger bands are separating, indicating increased volatility and impetus. DYOR.
New 3 year 8 month high, implies no overhead supply from previous trading. Point & figure price projection is 102.5. Bullish quarterly price bar Japanese spinning top(similar to doji but close-open, greater than 5%) ended June 2024 , 75 broken above. Recent Japanese doji(close-open, less than 5% of high-low range) price bar, low of 85, can provide suitable stop level, but also deduct spread. Sector is making new high. DYOR.
The price bar of 12/9/24, 509-524, could be a demand area, from which the sp, might rally. Sp, closed on Thursday at 521, near to low for the day. Look to see if strong rally from 509-524, in next few days. DYOR.
Revision to previous message. Sector was up 3.21%, while W7L, fell 2.99%, evident one day weakness to the sector. Sp, fell below support at 534, on Thursday. A 2 day close, below price support at 534, would imply further fall. Friday will reveal whether that is the case. DYOR.
Outside(high greater the previous high and low less than previous low) bullish daily price bar of 12/9/24, price target is 1650, based on the outside bar range x 2, added to the high of the outside bar. Weekly bullish doji(open and close, very close together compared with range) candlestick of 9/9/24, adds to the positive outlook.
RSI(relative strength index), bullish positive divergence, pivot of 5/8/24, implies potential price target range of 1587-1621, within 24 days, including todays rally to 1573. DYOR.
Bollinger band 1 standard deviation representation of volatility, tends to be respected, by an equity in an uptrend. The weekly 1 standard deviation is at 178.3 and the daily 1 standard deviation is at 193.7. Diverging Bollinger bands, support current fast equity movement. However, if a consolidation ensues, the sp, levels between 178.3-193.7, can be expected to delineate the retracement. DYOR.
RSI(relative strength) bullish positive divergence with pivot origin on 20/8/24. Sp, forecast is 597 , within 13 trading days, including today. Last week was a weak bearish outside (high greater than previous week and low less than previous week) weekly price bar. The close and open on the outside bar were near each other, comprising 12% of the outside bar range , implying probable professional accumulation. Yesterday was a daily outside bar appearing to indicate attempt to accrue supply in W7L, again bullish. Sector is oversold and well below March 2024 quarterly time pivot. DYOR.
Household goods sector dropped below trough low of 14331, briefly on Friday, but closed above the low. The sector trough low requires to hold, for a positive background to VTY, regaining it's unexpected Friday reaction. DYOR.
Friday closed down, so weekly pivot is now 1362.66, which sp, requires to close above to regain a bullish scenario. The unexpected reaction on Friday, caused the close to fall below the weekly open, which is bearish. However the percentage difference of the close-open, is only 12.5% of the weekly range , which weakens the bearish situation to some extent. The weekly bar was an outside price bar(high greater than previous week and low less than previous week). DYOR.
Sp, has now broken above the June 2021 high of 1351. The pivot( high+low+close)/3= 1395, and the support(2 X pivot)-high=1360. The break above the June 2021 high, with both pivot and support levels, above that historic high, is bullish. One more trading day, to find out if sp, closes above 1404, for 2 days. DYOR.
The bearish weekly outside price bar of 29/7/24, would be negated, if sp, can close above the outside bar high of 1404, for two days. I must emphasise than an intraday high does not count. DYOR.
Bearish negative RSI(relative strength index) divergence. Sector has not risen above trendline from July 2024, which is bearish. VTY, price target upward is 1424, but rally today has been contained by the volatility based upper Bollinger band of 1410. Technical chart outside weekly price bar, of 29/7/24, implies bearish lower price target of 1080, where the weekly range x 2,is deducted from the low price of the weekly bar. DYOR.
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