JO: Potential Double Bottom w/ Bullish Crab and Divergence
I would first like to give credit to IvanLabrie for finding this potential double bottom -- his original idea is linked below.
In addition to the potential double bottom I found this potential Bullish Crab. The 1.618 XA extension for this pattern is 17.06 -- 6 cents above the previous low of $17 last February. At the moment there is also a slight bullish divergence in the RSI on the daily chart.
I will be watching for the opportunity to buy in the low $17 area confirmed by price action at the PRZ of this pattern as well as the RSI. This pattern will be invalidated if the price exceeds a 2.0 XA extension, which is just below $16.
In addition to the potential double bottom I found this potential Bullish Crab. The 1.618 XA extension for this pattern is 17.06 -- 6 cents above the previous low of $17 last February. At the moment there is also a slight bullish divergence in the RSI on the daily chart.
I will be watching for the opportunity to buy in the low $17 area confirmed by price action at the PRZ of this pattern as well as the RSI. This pattern will be invalidated if the price exceeds a 2.0 XA extension, which is just below $16.
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