Shengkai Innovations, Inc. (VALV)

[stocktrademan]

I think the chart experienced a technical event. The longer the time frame the more pronounced the result daily. Why it happened (?), I have no knowledge or foresight why at all. But it is noticeable and measurable, so the whys of it is not relevant for profit opportunity. Who cares why really. Maybe somebody's dog barked or cat meowed or guinea pig fhweeped. Who knows really.

This one looks like long term weekly MACD bullish divergence, with the MACD triggering over the zero line. On the daily percent change it looks profound only because the event was 5x setup on the weekly chart.



Perhaps the big takeaway here is charts are recovering, and we should all be looking at things to pick up in this area. Of course using this understanding and trade our own ways that makes the most sense.

Good luck and Best Wishes


https://school.stockcharts.com/doku.php?id=technical_indicators:moving_average_convergence_divergence_macd