Avnet uptrend retreat - Hammer @50sma
AVT has been in a consolidation pattern since July 10th, with a bull technicals behind.
Last candle today is a hammer. Showing buyer strength when price fell to $43.6.
Technical data
If we can continue above the SMA(50); that would confirm the trend.
**I recommend not buying until we see Monday sentiment after Trump's meeting with Xi.
Happy trading!
dorfmanmaster
Last candle today is a hammer. Showing buyer strength when price fell to $43.6.
Technical data
- Price just below SMA(50)
- Price just above SMA(200)
- RSI 56 trending higher
- OBV confirming trending higher
- Directional move index turned positive
If we can continue above the SMA(50); that would confirm the trend.
**I recommend not buying until we see Monday sentiment after Trump's meeting with Xi.
Happy trading!
dorfmanmaster
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