Seems that the next week or so will be crucial for Nearmap Ltd (ASX:NEA). I'm seeing many mixed signals that is telling me simply to wait another week to see what happens. I love what I see technically, however I do have some structural concerns.
Bullish arguments:
Areas of concern:
Hit the LIKE button if you like my analysis and want to support my channel. Follow to make sure you don't miss any future trade ideas.
Bullish arguments:
- Location: Ranging just above the 0.618 fib
- Structure: Triple bottom off the 0.618 fib
- Divergence: Strong div in histogram, currently unconfirmed. Triple divs in both willy and RSI (!!)
- VPVR: Sitting at the POC
- Candles: Last week produced a weekly bullish engulfing candle
Areas of concern:
- VPVR gap below is nasty. Filling that void would result in ~28% drop from current prices.
- OBV has been making lower lows since November. We're currently testing its 13EMA
- Several weekly gaps below that haven't been filled.
- Descending triangle chart pattern.
Hit the LIKE button if you like my analysis and want to support my channel. Follow to make sure you don't miss any future trade ideas.
הערה:
Bullish engulfing candle
הערה:
הערה:
1D chart does not fill me with confidence, I'm now leaning bearish. OBV showing that sellers are taking control. There is too much potential liquidity resting below.
הערה:
Bearish prophecy fulfilled
tradingstrategyguide...ing-triangle-1-2.png