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the recent chart is remarkably like a run a few months ago
What you are looking at is a consolidation after a bullish run....it is natural for the stock after such a run to return to the 20daySMA....from there it will fluctuate around the 20daySMA until the Bollie tighten and another break up or down occurs (the direction cannot be predicted at this point.
The rounded BBwidth and MACD and fall of Slow Sto are strong characteristics of an end of a Bullish run for the time being.
I see a stock in consolidation after a bullish rise... So far it is acting fairly normally in that after such a rise there is a natural tendency to return the the 20daySMA and since my last post this has happened and as you say (though I use a SMA) the 20 day moving average is supporting the stock well at this point.
However the stock is abut 5-7 days away from revealing a real major move (I gauge this from the BBwidth which is currently at 18 and must get down to 5-7 before a break up/down occurs.
the stock price is headed towards $137 which is an all time high, hence this should be a significant resistance. I have no doubt that the price will reach that level but passing it is unclear at this point for me
I hope this works for you but I would watch carefully as it nears $137 ... especially once the bollies get narrow
just following a plan here. Add was based on plan working out . moving avg's are just references I use. The basis for the trade is that GMCR just broke out of a balance area, retraced to the 20ma, and I expect price discovery higher(imbalance). I will scale out into strength if I am right. I will be out if wrong and price returns into the prior balance area. VAH/ gap, excess low 125.3
I hope you don't view my analysis as negative. Rather it is sort of a "watch" analysis. Personally I tend to want to make purchases during a bollie squeeze when I am pretty sure of a direction...it is the reason I don't use stop-loss orders to protect the buy.
It will be interesting to see how this plays out. I see the share price slowing its advance as it moves closer to that resistance at $136-$137....it may stay there a while as the Bollies tighten, moving sideways into a Bollie tunnel.
this chart has a mildly bullish sentiment at present....were it to continue so for the next 5-10 business days, I would say a positive breakout was in the cards
it is a watch for me...I want to see it pass that $136 - $137 resistance
