Price broke below the cloud in the previous trading session, changing the chart outlook to bearish. A gap down in price in the previous trading session enhanced the bearish outlook. Conversion line and base line had a bearish crossover and is hinting at a bearish price trend. Lagging Span is below price of 26 days ago and below the cloud, confirming the bearish price trend. MACD is above the zero line. If price can stay below the cloud, it could be heading towards the previous low at $19.71.
Outlook Price broke above the cloud on Friday’s night, changing the trend outlook for this stock from bearish to bullish. The breakout candle was also a strong white candlestick, bigger than the previous few days. This enhances the strength of the bullish breakout. Price has also moved above a gap from 6 March 2020, enhancing the strength of the breakout. Conversion and Base lines had a bullish crossover confirming the bullish trend. Lagging Span is above price of 26 days ago but is currently inside the cloud. MACD is bullish. MACD is rising as well, hinting of further price upsides ahead. Projecting with the V price projection, gives us a price target of $16.10. A bigger E projection from 15 April’s low gives us a price target of $18.67. Using the N projection target from 18 March’s low, gives us a price target of $18.78.
Outlook Price broke above the cloud on Friday changing the trend to bullish after being in a bearish trend since 24 Jan 2020. The breakout on Friday was a stronger and bigger candlestick than the previous few days. This enhances the strength of the breakout. Price gapped above a gap that was created on 6 March 2020. Conversion and Base lines had a bullish crossover, confirming the bullish trend. Lagging Span is above price of 26 days ago but is currently inside the cloud. MACD is bullish with both its lines above the zero line. Going by the N price projection from the low on 1 April 2020 to the high of 30 April, we have a price projection target of $9.66, which is just below the gap resistance zone from $9.68 to $9.97.
Outlook Price moved into the cloud and stayed within the cloud for 3 days but was unable to move above the cloud despite a rally in the Dow index and crude oil price. Price closed at the edge of the cloud yesterday and could be moving lower. Conversion and Base are both flat but have not crossover as yet. Price was unable to break above a resistance point 3 days ago. MACD is bullish at the moment, but its histogram shows MACD is weak. The cloud area is thick and large and we think with a weak momentum, price is unlikely to able to move above the cloud. Price could be heading lower to test the previous low of $19.75.
Outlook Price tested the cloud 3 days ago, but for 2 days was unable to move beyond the edge of the cloud. Yesterday, price moved below the cloud, confirming the bearish trend. Both Conversion and Base lines had a bearish crossover earlier as well, reinforcing the bearish trend Lagging Span is below the cloud, confirming the bearish trend. MACD has turned bearish with both its lines below the zero line. Price could be heading lower to the previous low of $$11.06.
Price has broken above a resistance high and closed above it yesterday. Price is also above the cloud and both Conversion and Base lines had bullish crossover earlier. These are signs indicative of a bullish trend. Lagging Span is above the price 26 days ago as well as above the cloud. This is another sign of a bullish trend. MACD is bullish and rising and has managed to stay above a rising trend line. The trend should be strong enough to drive price higher to the next resistance point of $1.96
Price broke above the recent high and closed near to its high for the day in a strong and long white candlestick. Price is also above the cloud and above both Conversion and Base line. Conversion line had crossed over the Base line as well. These are indications of a strong bullish trend. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish trend. MACD is bullish and rising as well.
