I think the answer is yes, but it's due for a heavy pull back. Either way, going to be a fun ride! I'm thinking the trend continues because volume is nice and steady, and earnings coming up. It may try to consolidate in a few days, but that may be the pullback it needs to launch again right after earnings.
I believe that SPY is due for a break out from the current resistance and will begin to test all time highs in the coming weeks. Golden cross on the daily chart a few days ago and volume is picking up steadily!
Based on double touch of fib retracement resistance line and larger uptrend candle on Heiken Ashi chart. MACD along with divergence of the 50 and 200 moving averages doesn't show strong support for the uptrend, but this market hasn't made much sense lately.
LK plummeted this morning on news of potential fabrication of transactions spanning the second to fourth quarters of 2019. The drop was from roughly $26 a share, and plummeted to roughly $4 per share. Shortly after open the chart began a massive climb up.
I presume this is due to short sales closing positions, and dip buyers coming in to snatch up shares.
Currently well into the divergence following a death cross; with earnings tomorrow, the current trend could reverse towards a future golden cross. However, the last earnings date began the divergence to the death cross in the first place.
Massive divergence of the 50MA and 200MA displays a beautiful death cross in action and the MACD is converging with signal for a downtrend on the daily chart. With earnings tomorrow morning and all the negative news around COVID-19, this one's a no brainier. If the current support breaks then Carnival may go sub $1.
Based purely on the first step in convergence between MACD and signal, still need another candle or two for confirmation. Fib showing support around 228 if we do begin to decline heavily.
Will be watching the daily chart for confirmation.