BOIL - bullish based on pitchfork analysis
Updated
BOIL price fell 98% but the technicals (particularly analysis of pitchfork lines) indicate that BOIL is a good buy opportunity.
Comment
Look at the divergence between price and RSI on Feb. 3/2023 and Feb. 21. The lows of the price were trending down but the RSI lows were trending up. What followed? From Feb. 21 till March 3rd the price went up ~83%. There is a similar divergence between price and RSI, look at the lows on May 4th and June 2nd. I expect a similar move up is coming.Comment
FYI, there is going to be a BOIL split of 1:20: finance.yahoo.com/news/proshares-announces-etf-share-splits-210000155.htmlTrade closed: target reached
My new gRSI indicator tells me that BOIL will fall tomorrow (it told me it would go up today). So I'm closed the position at 3.22 (about 20% profit from the price shown here, 2.69 but I also got some at 2.48 for ~30% profit). This is a shorter term move although longer term I still expect BOIL to go up.Comment
FYI, BOIL went through reverse split (1:20) a few days ago. Also, I'm watching the charts for another good entry point and I'll post another idea.
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