OPEN
This stock has been in a downward trend for a long time, but it seems like a trend reversal may have appeared. The Williams %R indicator shows that the stock is currently trading at oversold values. This is a good sign for those who are trying to enter the trade as the fib retracement levels are already around 50%. I have marked a channel formation in the current graph to show the general trend in the 4H chart. There is also horizontal lines to show the previous highs. This stock may also be in an ascending wedge which can be a future indicator of the price breaking out and dropping into a lower level for support. As long as the price movements stay within the channel formed, we should be seeing some movement toward the upside.
This stock has been in a downward trend for a long time, but it seems like a trend reversal may have appeared. The Williams %R indicator shows that the stock is currently trading at oversold values. This is a good sign for those who are trying to enter the trade as the fib retracement levels are already around 50%. I have marked a channel formation in the current graph to show the general trend in the 4H chart. There is also horizontal lines to show the previous highs. This stock may also be in an ascending wedge which can be a future indicator of the price breaking out and dropping into a lower level for support. As long as the price movements stay within the channel formed, we should be seeing some movement toward the upside.