The prognosis for week 4 of May 2022 is: Week chart Neutral & Day chart Bear
This assessment in no way considered financial advice.
When I look at the daily chart I can see just how the adjustment took place. Almost sideways in movement the week comprised itself of various bull and bear candles. It is not near the current trending resistance line. It is a fairly safe thought that it may hit the trend line before the next major move. The buying volume is decreasing, this may trigger an early bear continuation. Even my wording has a tone of "it will head down eventually" The OBV has decent swings and doesn't really indicate a great deal. Typically when a stock commences a rally it will eventually produce a sharper angle rally before any reversal. Thursday and Friday's candles are inside bars with Friday being a complete stalemate. The evidence suggests a weak price correction, so Bears are a stronger probability.
This assessment in no way considered financial advice.
When I look at the daily chart I can see just how the adjustment took place. Almost sideways in movement the week comprised itself of various bull and bear candles. It is not near the current trending resistance line. It is a fairly safe thought that it may hit the trend line before the next major move. The buying volume is decreasing, this may trigger an early bear continuation. Even my wording has a tone of "it will head down eventually" The OBV has decent swings and doesn't really indicate a great deal. Typically when a stock commences a rally it will eventually produce a sharper angle rally before any reversal. Thursday and Friday's candles are inside bars with Friday being a complete stalemate. The evidence suggests a weak price correction, so Bears are a stronger probability.