Trade Idea - LOW
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Trade Idea - LOW
The stock is moving in an upward channel with higher highs and higher bottoms a sign of a genuine up trend in progress. The volumes are going up simultaneously along with prices, it is clear that the underlying bullish trend will sustain. RSI is clearly overbought and shows a negative divergence, which could lead to a strong correction this week. Corrections are always healthy in an uptrend. MACD averages, is still above the zero line in the indicator and as long as it remains above the zero line the trend will remain intact. Prices are above the major moving averages. Therefore, look for prices to correct downwards before continuing the up trend again. The major support for stock is now at $23.03 ( 200 EMA ).
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AC Investor Blog
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Análises Técnicas de activos cotados em Wall Street. Os artigos do AC Investor podem também ser encontrados diariamente nos portais financeiros, Daily Markets, Benzinga, Minyanville, Solar Feeds e Wall Street Pit, sendo editor e contribuidor. Segue-me também no Twitter : http://twitter.com/#!/ACInvestorBlog e subscreve a minha newsletter.
www.ac-investor.blogspot.com -
Análises Técnicas de activos cotados em Wall Street. Os artigos do AC Investor podem também ser encontrados diariamente nos portais financeiros, Daily Markets, Benzinga, Minyanville, Solar Feeds e Wall Street Pit, sendo editor e contribuidor. Segue-me também no Twitter : http://twitter.com/#!/ACInvestorBlog e subscreve a minha newsletter.
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