Technicals in Review for Aurora Cannabis Inc (ACB) As MACD Shows Sell

Investors may be studying recent technical signals on shares of Aurora Cannabis Inc (ACB). Watching the longer-term MACD oscillator indicator, we …

Investors may be studying recent technical signals on shares of Aurora Cannabis Inc (ACB). Watching the longer-term MACD oscillator indicator, we have seen that the signal is Sell. The MACD is typically used to measure bullish or bearish price movements. The direction of the MACD signal is currently Strongest. Taking a peek at the 50-day parabolic time/price signal, we can see the signal is presently displaying a Buy. Let’s take a quick look at some recent stock price activity. At the time of writing, the high price for the current session is 7.2. On the other end of the spectrum, the low price for the session is currently 6.61. After noting recent price levels, we can see that the change from today’s open is presently 0.64.

Investors will be closely tracking the equity market as we charge through the last couple of months of the year. They may be doing a review of the portfolio to see what moves have worked and which ones haven’t. Reviewing specific holdings and past entry and exit points may help the investor develop new ideas to trade on in the future. Staying on top of market happenings and the economic landscape can be a challenge. Investors will be closely following the action over the next quarter to help gauge whether the bulls will stay out front, or if the bears will take the lead.

Investors may be trying to identify volume trends over time. Some investors may look for consistency, while others may be interested in peculiar activity. Taking a look at some historical average volume numbers, Aurora Cannabis Inc (ACB) has a 1 month average of 14254173, a 3 month average of 12729477. Focusing on another technical indicator, the stock currently has a 9 day raw stochastic value of 72.59%. This value (ranging from 0-100%) shows where the stock price closed relative to the price range over the given period.

The current analyst rating on shares of Aurora Cannabis Inc (ACB) is 4. This is based on a scale where a 5 would indicate a Strong Buy, a 4 would equal a Moderate Buy, 3 a hold, 2 a moderate sell, and a rating of 1 would indicate a Strong Sell. Investors often like to keep track of what the sell-side analysts think about certain stocks. Professional Street analysts that cover specific stocks may have deeper knowledge regarding the current health of the company. Analysts may be more active around earnings report periods. They will often make updates to estimates prior to and after a company’s quarterly release. Shifting gears, we can take a brief look at how the stock has fared over the past year. After a recent look, we have noted that the stock’s high price over the past 52-weeks is presently 12.52. Over the same period, shares have dipped to a low of 4.05. Investors and analysts will be curious to see how shares perform heading into the second half of the calendar year.

Keeping tabs on some alternate data, we can see that the stock has a current weighted alpha of +8.06. The weighted alpha measures how much shares have increased or decreased over the full year time frame. The weighting assigns greater emphasis on more recent activity giving a more relevant measure for short-term technical analysts to use. A positive weighted alpha reading indicates that the stock has risen over the last year. A negative reading would indicate that the stock is down over that same time period. Technical traders often use the weighted alpha to help identify stocks that are building momentum.

Investors may be looking for the next positive catalyst to create a solid breakout. Some may be wondering when the party will end, and it remains to be seen if excess and profit-taking rotation may create any pullbacks in the upcoming quarter. Investors may have to make a decision whether to ease-up or stay aggressive. Investors may also be closely watching winners and losers, especially in the technology sector. Understanding and researching the space may be highly important when managing the investment portfolio. The key for investors will be to try and locate the winners in the space and find the companies that are either creating new technology or adapting to it rapidly.

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Man Group Plc (EMG.L) Volume Increasing Over Past 7 Sessions

Man Group Plc (EMG.L) has been garnering interest of retail and insitutional invenstors alike as the shares have seen its VMA (volume moving …

Man Group Plc (EMG.L) has been garnering interest of retail and insitutional invenstors alike as the shares have seen its VMA (volume moving average) steadily rise over the past 7 sessions. In the most recent session, shares touched a high point of 163.55, while dipping down to 156.45. Shares closed with a change of -4.90 from the most recent open.

With the stock market still cranking along, new investors may be wondering if they are too late to join the party. Picking stocks when everything is on the up can be much easier than trying to find winners when the markets sour. Taking a ride on the stock market roller coaster can indeed provide many ups, but also just as many downs. If there was a sure fire stock picking method that always produced winners, the ride would no doubt be smooth but much less thrilling. There is plenty of information available about publically traded companies that investors can use to make better informed stock picks. However, the challenge for the individual investor becomes figuring out how to best use the information at hand in order to select winners. Navigating the equity markets can seem daunting at times. Finding ways to filter out the important data from the unimportant data can make a big difference in sustaining profits into the future. As we move into the second half of the year, investors will be watching to see which way the momentum shifts and if stocks are still primed to move higher.

A Volume Moving Average is the simplest volume-based technical indicator. Similar to a price moving average, a VMA is an average volume of a security (stock), commodity, index or exchange over a selected period of time. Volume Moving Averages are used in charts and in technical analysis to smooth and describe a volume trend by filtering short term spikes and gaps.

Investors may need to sometimes be reminded of the risks involved with stock market investing. Figuring out the individual capacity for risk may involve gauging the possible impact that real losses can have not only on the stock portfolio, but the investor’s mindset as well. Preparing for risk before jumping into the market can help put things in perspective. Investors who wait until holdings suddenly start dropping may be in for quite a shock when things go haywire. Many risk related errors can be addressed with proper calculations up front. Being aware of risk and managing the portfolio accordingly can be a big factor in the long-standing success of the investor.

The Williams Percent Range or Williams %R is a technical indicator worth taking a look at. Man Group Plc (EMG.L) currently has a 14 day Williams %R of -95.28. The Williams %R fluctuates between 0 and -100 measuring whether a security is overbought or oversold. The Williams %R is similar to the Stochastic Oscillator except it is plotted upside-down. Levels above -20 may indicate the stock may be considered is overbought. If the indicator travels under -80, this may signal that the stock is oversold. Chart analysts may also use the indicator to project possible price reversals and to define trends.

Another technical indicator that might serve as a powerful resource for measuring trend strength is the Average Directional Index or ADX. The ADX was introduced by J. Welles Wilder in the late 1970’s and it has stood the test of time. The ADX is typically used in conjunction with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to help spot trend direction as well as trend strength. At the time of writing, the 14-day ADX for Man Group Plc (EMG.L) is noted at 41.45. Many technical analysts believe that an ADX value over 25 would suggest a strong trend. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal.

Investors may use various technical indicators to help spot trends and buy/sell signals. Presently, Man Group Plc (EMG.L) has a 14-day Commodity Channel Index (CCI) of -276.67. The CCI was developed by Donald Lambert. The assumption behind the indicator is that investment instruments move in cycles with highs and lows coming at certain periodic intervals. The original guidelines focused on creating buy/sell signals when the reading moved above +100 or below -100. Traders may also use the reading to identify overbought/oversold conditions.

Taking a look at other technical levels, the 3-day RSI stands at 13.95, the 7-day sits at 28.29 and the 14-day (most common) is at 40.37. The Relative Strength Index (RSI) is an often employed momentum oscillator that is used to measure the speed and change of stock price movements. When charted, the RSI can serve as a visual means to monitor historical and current strength or weakness in a certain market. This measurement is based on closing prices over a specific period of time. As a momentum oscillator, the RSI operates in a set range. This range falls on a scale between 0 and 100. If the RSI is closer to 100, this may indicate a period of stronger momentum. On the flip side, an RSI near 0 may signal weaker momentum. The RSI was originally created by J. Welles Wilder which was introduced in his 1978 book “New Concepts in Technical Trading Systems”.

Keeping an eye on Moving Averages, the 50-day is 156.77, the 200-day is at 144.43, and the 7-day is 166.54 for Man Group Plc (EMG.L). Moving averages have the ability to be used as a powerful indicator for technical stock analysis. Following multiple time frames using moving averages can help investors figure out where the stock has been and help determine where it may be possibly going. The simple moving average is a mathematical calculation that takes the average price (mean) for a given amount of time.

Successful investors are typically well aware of portfolio holdings at any given time. They tend to regularly review the portfolio to make sure that the combination of stocks is in line with goals and contributing to the outlined strategy. There may be times when everything seems to be in order after a thorough portfolio review. Other times, there may be a few changes that can be made. Maybe there are one or two names that have been over performing providing a big boost to the portfolio. On the other end, there could be a few stocks that are impacting the portfolio in a negative way and they may need to be addressed. Although constant portfolio monitoring may not be overly necessary for longer-term investors, regular portfolio examination is generally considered to be a good idea.

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Technical Trading: Focusing on Shares of Nxp Semiconductors (NXPI)

Traders might be following the signals on shares of Nxp Semiconductors (NXPI). After a recent look, we can see that the SuperTrend line is now below …

Traders might be following the signals on shares of Nxp Semiconductors (NXPI). After a recent look, we can see that the SuperTrend line is now below the current stock price. This signal may alert traders that the stock has possibly entered into sell territory.

Investors often hear the saying “buy low, sell high”. This may seem highly obvious to anybody looking to get into the stock market. Even though investors typically know they should do this, novices tend to do just the opposite, buy high and sell low. Often times, amateur investors will get carried away when a stock is trending higher. They may attempt to get in on the stock after a big move with hopes of the stock going higher and an overall thought that relates to the fear of missing out. Often times, investors will find themselves in a precarious situation when this occurs. They might have taken a chance on a stock that maybe was too good to be true. Investors may regret buying after the big move when the price has far exceeded the underlying value. Closely watching the fundamentals may help investors avoid getting into sticky situations such as buying too high.

Tracking other technical indicators, the 14-day RSI is presently standing at 51.94, the 7-day sits at 47.04, and the 3-day is resting at 32.64 for Nxp Semiconductors (NXPI). The Relative Strength Index (RSI) is an often employed momentum oscillator that is used to measure the speed and change of stock price movements. When charted, the RSI can serve as a visual means to monitor historical and current strength or weakness in a certain market. This measurement is based on closing prices over a specific period of time. As a momentum oscillator, the RSI operates in a set range. This range falls on a scale between 0 and 100. If the RSI is closer to 100, this may indicate a period of stronger momentum. On the flip side, an RSI near 0 may signal weaker momentum. The RSI was originally created by J. Welles Wilder which was introduced in his 1978 book “New Concepts in Technical Trading Systems”.

We can also do some further technical analysis on the stock. At the time of writing, the 14-day ADX for Nxp Semiconductors (NXPI) is 21.63. Many technical chart analysts believe that an ADX value over 25 would suggest a strong trend. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal. The ADX is typically plotted along with two other directional movement indicator lines, the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI). Some analysts believe that the ADX is one of the best trend strength indicators available.

A commonly used tool among technical stock analysts is the moving average. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a certain period of time. Moving averages can be very helpful for identifying peaks and troughs. They may also be used to assist the trader figure out proper support and resistance levels for the stock. Currently, the 200-day MA for Nxp Semiconductors (NXPI) is sitting at 89.68.

Nxp Semiconductors (NXPI) currently has a 14-day Commodity Channel Index (CCI) of -26.50. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.

Nxp Semiconductors (NXPI)’s Williams Percent Range or 14 day Williams %R presently is at -57.23. In general, if the reading goes above -20, the stock may be considered to be overbought. Alternately, if the indicator goes under -80, this may show the stock as being oversold.

Investors may be searching high and low for the next breakout winner in the stock market. As companies continue to release quarterly earnings reports, investors will be looking for stocks that have the potential to move to the upside in the coming months. Tracking earnings can be a good way for investors to see how the company is stacking up to analyst estimates. Some investors prefer to track sell-side estimates very closely. Others prefer to do their own research and make their own best guesses on what the actual numbers will be. A solid earnings beat may help ease investor worries if the stock has been underperforming recently. On the flip side, a bad earnings miss may cause investors to take a much closer look at what the future prospects look like for the company.

Traders might be following the signals on shares of Nxp Semiconductors (NXPI). After a recent look, we can see that the SuperTrend line is now below the current stock price. This signal may alert traders that the stock has possibly entered into sell territory.

Investors often hear the saying “buy low, sell high”. This may seem highly obvious to anybody looking to get into the stock market. Even though investors typically know they should do this, novices tend to do just the opposite, buy high and sell low. Often times, amateur investors will get carried away when a stock is trending higher. They may attempt to get in on the stock after a big move with hopes of the stock going higher and an overall thought that relates to the fear of missing out. Often times, investors will find themselves in a precarious situation when this occurs. They might have taken a chance on a stock that maybe was too good to be true. Investors may regret buying after the big move when the price has far exceeded the underlying value. Closely watching the fundamentals may help investors avoid getting into sticky situations such as buying too high.

Tracking other technical indicators, the 14-day RSI is presently standing at 51.94, the 7-day sits at 47.04, and the 3-day is resting at 32.64 for Nxp Semiconductors (NXPI). The Relative Strength Index (RSI) is an often employed momentum oscillator that is used to measure the speed and change of stock price movements. When charted, the RSI can serve as a visual means to monitor historical and current strength or weakness in a certain market. This measurement is based on closing prices over a specific period of time. As a momentum oscillator, the RSI operates in a set range. This range falls on a scale between 0 and 100. If the RSI is closer to 100, this may indicate a period of stronger momentum. On the flip side, an RSI near 0 may signal weaker momentum. The RSI was originally created by J. Welles Wilder which was introduced in his 1978 book “New Concepts in Technical Trading Systems”.

We can also do some further technical analysis on the stock. At the time of writing, the 14-day ADX for Nxp Semiconductors (NXPI) is 21.63. Many technical chart analysts believe that an ADX value over 25 would suggest a strong trend. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal. The ADX is typically plotted along with two other directional movement indicator lines, the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI). Some analysts believe that the ADX is one of the best trend strength indicators available.

A commonly used tool among technical stock analysts is the moving average. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a certain period of time. Moving averages can be very helpful for identifying peaks and troughs. They may also be used to assist the trader figure out proper support and resistance levels for the stock. Currently, the 200-day MA for Nxp Semiconductors (NXPI) is sitting at 89.68.

Nxp Semiconductors (NXPI) currently has a 14-day Commodity Channel Index (CCI) of -26.50. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.

Nxp Semiconductors (NXPI)’s Williams Percent Range or 14 day Williams %R presently is at -57.23. In general, if the reading goes above -20, the stock may be considered to be overbought. Alternately, if the indicator goes under -80, this may show the stock as being oversold.

Investors may be searching high and low for the next breakout winner in the stock market. As companies continue to release quarterly earnings reports, investors will be looking for stocks that have the potential to move to the upside in the coming months. Tracking earnings can be a good way for investors to see how the company is stacking up to analyst estimates. Some investors prefer to track sell-side estimates very closely. Others prefer to do their own research and make their own best guesses on what the actual numbers will be. A solid earnings beat may help ease investor worries if the stock has been underperforming recently. On the flip side, a bad earnings miss may cause investors to take a much closer look at what the future prospects look like for the company.

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SuperTrend Above Stock Price for Juniper Networks (JNPR)

Traders might be following the signals on shares of Juniper Networks (JNPR). After a recent look, we can see that the SuperTrend line is now below …

Traders might be following the signals on shares of Juniper Networks (JNPR). After a recent look, we can see that the SuperTrend line is now below the current stock price. This signal may alert traders that the stock has possibly entered into sell territory.

Investors often hear the saying “buy low, sell high”. This may seem highly obvious to anybody looking to get into the stock market. Even though investors typically know they should do this, novices tend to do just the opposite, buy high and sell low. Often times, amateur investors will get carried away when a stock is trending higher. They may attempt to get in on the stock after a big move with hopes of the stock going higher and an overall thought that relates to the fear of missing out. Often times, investors will find themselves in a precarious situation when this occurs. They might have taken a chance on a stock that maybe was too good to be true. Investors may regret buying after the big move when the price has far exceeded the underlying value. Closely watching the fundamentals may help investors avoid getting into sticky situations such as buying too high.

Tracking other technical indicators, the 14-day RSI is presently standing at 38.68, the 7-day sits at 28.53, and the 3-day is resting at 12.37 for Juniper Networks (JNPR). The Relative Strength Index (RSI) is an often employed momentum oscillator that is used to measure the speed and change of stock price movements. When charted, the RSI can serve as a visual means to monitor historical and current strength or weakness in a certain market. This measurement is based on closing prices over a specific period of time. As a momentum oscillator, the RSI operates in a set range. This range falls on a scale between 0 and 100. If the RSI is closer to 100, this may indicate a period of stronger momentum. On the flip side, an RSI near 0 may signal weaker momentum. The RSI was originally created by J. Welles Wilder which was introduced in his 1978 book “New Concepts in Technical Trading Systems”.

We can also do some further technical analysis on the stock. At the time of writing, the 14-day ADX for Juniper Networks (JNPR) is 12.49. Many technical chart analysts believe that an ADX value over 25 would suggest a strong trend. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal. The ADX is typically plotted along with two other directional movement indicator lines, the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI). Some analysts believe that the ADX is one of the best trend strength indicators available.

A commonly used tool among technical stock analysts is the moving average. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a certain period of time. Moving averages can be very helpful for identifying peaks and troughs. They may also be used to assist the trader figure out proper support and resistance levels for the stock. Currently, the 200-day MA for Juniper Networks (JNPR) is sitting at 27.19.

Juniper Networks (JNPR) currently has a 14-day Commodity Channel Index (CCI) of -274.45. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.

Juniper Networks (JNPR)’s Williams Percent Range or 14 day Williams %R presently is at -91.01. In general, if the reading goes above -20, the stock may be considered to be overbought. Alternately, if the indicator goes under -80, this may show the stock as being oversold.

Investors may be searching high and low for the next breakout winner in the stock market. As companies continue to release quarterly earnings reports, investors will be looking for stocks that have the potential to move to the upside in the coming months. Tracking earnings can be a good way for investors to see how the company is stacking up to analyst estimates. Some investors prefer to track sell-side estimates very closely. Others prefer to do their own research and make their own best guesses on what the actual numbers will be. A solid earnings beat may help ease investor worries if the stock has been underperforming recently. On the flip side, a bad earnings miss may cause investors to take a much closer look at what the future prospects look like for the company.

Traders might be following the signals on shares of Juniper Networks (JNPR). After a recent look, we can see that the SuperTrend line is now below the current stock price. This signal may alert traders that the stock has possibly entered into sell territory.

Investors often hear the saying “buy low, sell high”. This may seem highly obvious to anybody looking to get into the stock market. Even though investors typically know they should do this, novices tend to do just the opposite, buy high and sell low. Often times, amateur investors will get carried away when a stock is trending higher. They may attempt to get in on the stock after a big move with hopes of the stock going higher and an overall thought that relates to the fear of missing out. Often times, investors will find themselves in a precarious situation when this occurs. They might have taken a chance on a stock that maybe was too good to be true. Investors may regret buying after the big move when the price has far exceeded the underlying value. Closely watching the fundamentals may help investors avoid getting into sticky situations such as buying too high.

Tracking other technical indicators, the 14-day RSI is presently standing at 38.68, the 7-day sits at 28.53, and the 3-day is resting at 12.37 for Juniper Networks (JNPR). The Relative Strength Index (RSI) is an often employed momentum oscillator that is used to measure the speed and change of stock price movements. When charted, the RSI can serve as a visual means to monitor historical and current strength or weakness in a certain market. This measurement is based on closing prices over a specific period of time. As a momentum oscillator, the RSI operates in a set range. This range falls on a scale between 0 and 100. If the RSI is closer to 100, this may indicate a period of stronger momentum. On the flip side, an RSI near 0 may signal weaker momentum. The RSI was originally created by J. Welles Wilder which was introduced in his 1978 book “New Concepts in Technical Trading Systems”.

We can also do some further technical analysis on the stock. At the time of writing, the 14-day ADX for Juniper Networks (JNPR) is 12.49. Many technical chart analysts believe that an ADX value over 25 would suggest a strong trend. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal. The ADX is typically plotted along with two other directional movement indicator lines, the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI). Some analysts believe that the ADX is one of the best trend strength indicators available.

A commonly used tool among technical stock analysts is the moving average. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a certain period of time. Moving averages can be very helpful for identifying peaks and troughs. They may also be used to assist the trader figure out proper support and resistance levels for the stock. Currently, the 200-day MA for Juniper Networks (JNPR) is sitting at 27.19.

Juniper Networks (JNPR) currently has a 14-day Commodity Channel Index (CCI) of -274.45. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.

Juniper Networks (JNPR)’s Williams Percent Range or 14 day Williams %R presently is at -91.01. In general, if the reading goes above -20, the stock may be considered to be overbought. Alternately, if the indicator goes under -80, this may show the stock as being oversold.

Investors may be searching high and low for the next breakout winner in the stock market. As companies continue to release quarterly earnings reports, investors will be looking for stocks that have the potential to move to the upside in the coming months. Tracking earnings can be a good way for investors to see how the company is stacking up to analyst estimates. Some investors prefer to track sell-side estimates very closely. Others prefer to do their own research and make their own best guesses on what the actual numbers will be. A solid earnings beat may help ease investor worries if the stock has been underperforming recently. On the flip side, a bad earnings miss may cause investors to take a much closer look at what the future prospects look like for the company.

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Bitcoin Price Analysis: Bulls Pushing BTC Towards $11000

In my previous analysis, we looked at how bitcoin price action was trading in a key decision point. Now BTC bulls are heading back towards the …
bitcoin price bull breakoutTrading

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Smith| Aug 03, 2019 | 12:16


In my previous analysis, we looked at how bitcoin price action was trading in a key decision point. Now BTC bulls are heading back towards the $11,000 price mark forming a new uptrend.


Bitcoin Price 1-Hour Chart

xbt1h

On the 1 Hour chart for XBT/USD, we can see how the recent breakout of the asymmetrical triangle mentioned in a previous analysis has progressed over the last 3 days. The decision point range between $9,860 and $10,120 to determine the sustainability of the breakout has clearly broken to the upside resulting in a new sharp uptrend causing price levels to rise 11%.

Volume has begun to pick back up on this move to the upside but still remains fairly low in comparison to the volume seen in the move to $13k throughout June and July. A pull-back to $10,120 is expected within the next 48 hours and would present an optimal re-entry opportunity. The next key resistance level to look out for on this move is $11,000.


4-Hour Chart

xbt4h

On the 4 Hour chart for XBT/USD, we can see the breakout and new short-term uptrend in comparison to prior price action. Once the key resistance point at $11,000 is broken there’s little to no resistance until $12,000 meaning price levels will likely move very quickly within this trading range.

Maxx Momentum fired long right at the breakout point visible by the orange circles as momentum shifted to green, this is a sign of a strong breakout and that bears were really struggling to bring price levels down further. POC has moved up close to the current market price at $10,500 meaning lots of buying and selling is happening at this level and will likely become a new support zone. In order for this to happen price action must trade sideways within 3-4% of $10,500 over the coming days.

Both the 15 MA and 50 EMA has visibly crossed up over each other on this breakout which again points to a confident breakout for bulls and is also a sign of a new stronger trend forming. $8,800 was the key support level that BTC has to hold in order for the short-term consensus to remain bullish. I mentioned in a previous analysis that it’s unlikely this level will break and would require a significant amount of selling pressure which clearly hasn’t come to fruition.

Do you think Bitcoin price will reach $11,000 and head back towards $12,000 throughout the month of August? Please leave your thoughts in the comments below!


Images via Shutterstock, BTC/USD charts by tradingview

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