First chart review ever.
Looking at CERN on the daily timeframe
Purple line: Last seller to step in
Green Line: Last buyer to step in
Red Line: S&R line on the Monthly timeframe.
When looking at CERN on the monthly timeframe, the stock has pretty much been moving sideways between the red and green lines. Looks like there is some good fighting between buyers and sellers with buyers being in control at the moment. Decent upward move to the Monthly S&R line where another battle between buyers and sellers is currently taking place. Right now there doesn't seem to be enough evidence to suggest who is in control and which way the stock will move, though I am leaning towards buyers. This week may be a good indication if we see a quick correction downward or more of an upward trend.
My overall thought is the buyer seems to be pushing a tiny bit harder at the moment. However, on the monthly view, there is a big seller at the red line that can step in and put an end to the buyers push. Hopefully this next week will show that.
Looking at CERN on the daily timeframe
Purple line: Last seller to step in
Green Line: Last buyer to step in
Red Line: S&R line on the Monthly timeframe.
When looking at CERN on the monthly timeframe, the stock has pretty much been moving sideways between the red and green lines. Looks like there is some good fighting between buyers and sellers with buyers being in control at the moment. Decent upward move to the Monthly S&R line where another battle between buyers and sellers is currently taking place. Right now there doesn't seem to be enough evidence to suggest who is in control and which way the stock will move, though I am leaning towards buyers. This week may be a good indication if we see a quick correction downward or more of an upward trend.
My overall thought is the buyer seems to be pushing a tiny bit harder at the moment. However, on the monthly view, there is a big seller at the red line that can step in and put an end to the buyers push. Hopefully this next week will show that.