PHOT Chart......DOJI formed for today's candle.......right below MA(20)/middle Bollinger Band resistance.....
Doji's formed @ tops = a pullback.......since this doji was formed after PHOT bounced it is considered a top......the fact this top/Doji has formed @ MA(20) is significant......
once PHOT dropped below the Middle Bollinger band the trend changed from Bullish to Bearish....in order for PHOT to start a new uptrend it must CLOSE above MA(20).......
3 days in a row PHOT failed to close above Middle BB resistance......& on the 3rd day a doji formed.....
what does this all mean?.......that PHOT is set up for a pullback......the declining Vol. the last 3 days confirms this.......sellers have tired trying to break MA(20)......
1st support level is MA(50) @ 0.052 on a pullback......MACD had a bearish crossover last week & SAR flipped to a sell signal last week......both these indicators have signaled the downtrend......
if PHOT fails to close above MA(20) tomorrow I'd expect a pullback to MA(50) support......if PHOT breaks MA(20) resistance the next resistance level is MA(10) @ 0.078......
once PHOT clears MA's(10 & 20) a run to Upper BB resistance should follow......PHOT on judgement day radar......do or die tomorrow......$$$
Doji's formed @ tops = a pullback.......since this doji was formed after PHOT bounced it is considered a top......the fact this top/Doji has formed @ MA(20) is significant......
once PHOT dropped below the Middle Bollinger band the trend changed from Bullish to Bearish....in order for PHOT to start a new uptrend it must CLOSE above MA(20).......
3 days in a row PHOT failed to close above Middle BB resistance......& on the 3rd day a doji formed.....
what does this all mean?.......that PHOT is set up for a pullback......the declining Vol. the last 3 days confirms this.......sellers have tired trying to break MA(20)......
1st support level is MA(50) @ 0.052 on a pullback......MACD had a bearish crossover last week & SAR flipped to a sell signal last week......both these indicators have signaled the downtrend......
if PHOT fails to close above MA(20) tomorrow I'd expect a pullback to MA(50) support......if PHOT breaks MA(20) resistance the next resistance level is MA(10) @ 0.078......
once PHOT clears MA's(10 & 20) a run to Upper BB resistance should follow......PHOT on judgement day radar......do or die tomorrow......$$$
Learn to read Charts & Technical Analysis.....all are welcome....post your own charts & T/A & join the discussion
http://investorshub.advfn.com/$$$Ospreyeye-Charts-Technical-Analysis-&-Japanese-Candlestick-Patterns$$$-26060/
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
