CHLO Chart.......CHLO formed a Bullish Harami reversal pattern on Fri......but was unable to confirm the buy signal today having formed a Red Candle......
CHLO still has tomorrow to confirm the Buy signal........a white candle will be conformation.....CHLO broke MA(10) @ 0.026 intraday, but was unable to close above this resistance level.....
CHLO closed above MA(100) @ 0.022 Fri., but was unable to confirm support today......MA(100) & MA(10) are now both resistance levels......CHLO must close above these levels to confirm support & to start a rally......
CHLO closed above MA(10) on the 13th, but was unable to hold support on the 14th......it's been resistance ever since & hadn't been tested until today.......that's significant.......CHLO is working on breaking through support.......
You'll find it usually takes more than one attempt to confirm support.........the second confirmation is usually the launch point........
Checkout DMI w/ADX......the Green Line(+DI) is ready to Bullish Cross the Black Line(ADX)......this is a BUY Signal......& if you look @ this chart you'll find it's a significant one.......+DI hasn't Bullish Crossed ADX in Months!........Keep an EYE on the Buy signal......
Fast Sto @ 6.33......extreme Oversold.....a ton of juice to run.......Keep an EYE on MACD as well......the Bullish crossover will signal the start of a run.......
What to look for now?.......a white candle is needed to confirm the Buy signal......CHLO must close above MA's(10 & 100)........once those levels are broke CHLO must get back above the Middle Bollinger Band/MA(20) @ 0.036 for a new uptrend to begin.........
CHLO on Bullish Reversal Buy Signal Conformation Radar..........$$$
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