MYL setting up for bull run
Monthly
Close above 38.15 will be progress on bullish change on monthly chart.
Weekly
Price has been consolidating since July of 2016. However, a buy trigger was signaled on 5/8/2017 at 38.94 and price has held at this level. Indicators are turning bullish.
Daily
Initial and primary buy signal at 35.59. With Friday's close, price has broken out of daily consolidation and indicators are bullish. A follow-thru on daily chart in the coming week will lend more credibility to the bullish bias.
Bottom Line: On Monday's open, if price moves up, a buy could be triggered here with a SL at 39.30. If price continues up this week as follow-thru, then month could end with a buy trigger if +DI crosses up over -DI on DMI
Close above 38.15 will be progress on bullish change on monthly chart.
- DMI -DI still up but ADX has been trending down signaling trend weakening
- TRIX moving up but still below 0
- Stoch coming off oversold readings and trending up
Weekly
Price has been consolidating since July of 2016. However, a buy trigger was signaled on 5/8/2017 at 38.94 and price has held at this level. Indicators are turning bullish.
Daily
Initial and primary buy signal at 35.59. With Friday's close, price has broken out of daily consolidation and indicators are bullish. A follow-thru on daily chart in the coming week will lend more credibility to the bullish bias.
Bottom Line: On Monday's open, if price moves up, a buy could be triggered here with a SL at 39.30. If price continues up this week as follow-thru, then month could end with a buy trigger if +DI crosses up over -DI on DMI
Related publications
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.