Outlook Price broke above the bearish cloud on 4 February 2021. Last Friday, price stayed above the cloud, which could be a sign of a possible bullish trend. Lagging Span is above price of 26 days ago but is inside the cloud at the moment. MACD is bullish and both of MACD’s lines are about to have a bullish crossover which is a hint of a bullish price trend ahead. If price can move above downtrend line, it could be heading towards the previous high at $123.54.
Price broke above the cloud with a strong green candle yesterday, which was larger than the candle range for the past 2 weeks. Price closed above the cloud as well, hinting of a start of a bullish uptrend in progress. Price is trying to break above a 9-month down trend line and if price were to move above it, it would be a strong signal of a change and reversal of the bearish trend. Both Conversion and Base line had a bullish crossover earlier and both lines are moving steeply upward, hinting of a strong bullish trend. A gap above the previous day’s price is also another hint of the bullish trend. MACD is starting to turn bullish, hinting of a start of a bullish trend.
Price broke above the cloud with a strong green candle the previous day and closed above the cloud on that day. Both Conversion and Base line had a bullish crossover before price broke above the cloud. A gap created over the past two days also highlighted the strong uptrend. There was also a small Inverse Head and Shoulder chart pattern formed. The target for this chart pattern lies at $77.66. MACD has turned bullish and is also rising, hinting of a bullish trend ahead.
