Not necessarily. Thousands of stocks on the otc, finding stability after a fall, with or without news breaking.
A major hurdle has been crossed today. If we continue to hold above the 5 day, it will continue to rise as time passes. Eventually, those on the side lines (and you KNOW this happens), start to see that lift off the bottom, and it clicks that the bottom is in.
That propels the stock a bit higher, which brings your 5 day higher. Then you start closing above your 10 day, and so on.
That is a very organic way to look at a stock repairing itself without news, in the mean time.
Just looking for the 5 day to be held tomorrow, and maybe a bit better.
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