Daily chart is showing a possible bearish reversal due to the divergence between the current trend and the ADX indicator. The Stock RSI is also showing a strong overbought signal (94.4,92.34), which usually proceeds with downward movement.
One thing to mindful of is there appears to be a possible TK cross on the daily, which would usually imply a strong bullish reversal. But so far price has been unable to close past the monthly kijun-sen.
One thing to mindful of is there appears to be a possible TK cross on the daily, which would usually imply a strong bullish reversal. But so far price has been unable to close past the monthly kijun-sen.
Note
Price has hit the daily kumo and rejected. Now looks to testing the monthly kijun-sen.
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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.