Let’s take a quick look at First Solar.
In this latest decline beginning in August, we are now oversold and there is bullish divergence between price and momentum (as measured by the RSI). This may mean a low is forming. And, if we draw parallel rails around this price action, if a recovery is made and this lower parallel rail holds, this may revisit the upper rail, and any strong rally from here can target that:
Very little has changed since last weekend’s article, so far as interpreting our options here goes. I will approach this weekend’s article in the same manner, looking at the two basic alternatives available to us.
First, the elephant in the room remains the head & shoulders pattern that we can see. We have arrived at the neckline:
Read more “Weekend Review of the Markets: Don’t Assume the Bulls Are Dead Yet”
Good afternoon, traders. In yesterday’s post, I pointed out that if the bears could continue to push, that we would probably end up at the large head & shoulders neckline, and the bears delivered:
Read more “Market Update for Thursday, September 21st, 2023”
Good afternoon, traders.
After a harsh reaction to the FOMC meeting, the bears are getting even more out of this bear flag:
Read more “Market Update for Wednesday, September 20th, 2023”
Good afternoon, traders.
We’ll keep today somewhat short.
The bears got some more out of this bear flag:
