*Overall trend is bullish.
*Recent selloff from all time highs around 490 resulted in bearish channel which was pullback
*Seller failed to push prices past previous support area of 430.
*Bearish channel broke by upside gap due to postive earnings release
*Earnings release : positive earnings and revenue growth beating analysts forecast by 2.29% and 1.59% respectively.
*Channel resistance retested, by selloff after earnings release, close above 50 day moving average indicating buying pressure
*buying pressure pushes prices past previous high indicating buyers are in control.
*Recent selloff from all time highs around 490 resulted in bearish channel which was pullback
*Seller failed to push prices past previous support area of 430.
*Bearish channel broke by upside gap due to postive earnings release
*Earnings release : positive earnings and revenue growth beating analysts forecast by 2.29% and 1.59% respectively.
*Channel resistance retested, by selloff after earnings release, close above 50 day moving average indicating buying pressure
*buying pressure pushes prices past previous high indicating buyers are in control.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.