After the bottom in May of 2022, the price gapped up and broke through its resistance in $550.
Then formed a base to digest this move before continuing its trend up, this was my signal to buy as it broke out above $636. After that it didn't follow through and its RSI signaled weakness so I sold.
I don't like to hold positions that aren't going anywhere even if...
Thanks for viewing,
I'll give my technical and fundamental view briefly;
Technical;
- After the sharp drop from February highs AMEX has under-performed the market - dipping ~51%,
- This compares to an over 80% drop in 2009,
- The dip was followed by the formation of a rising wedge, which normally indicates continuation of the trend preceding the pattern (which...