If ENVX advances, it will enter a fast moving area as shown on the one year chart between downtrend lines. Previous trend gaps and fast moving prices areas are shown in the rectangles. Will likely need a catalyst.
Blue solid lines are established downtrends, green dotted lines are established uptrends. Both the uptrend and downtrend lines are established from equilibrium points, (not highs and lows). Thickness of lines illustrates strength of previous price action. Circles are the crossing of uptrend and downtrend, usually resulting in reactions.
Blue solid lines are established downtrends, green dotted lines are established uptrends. Both the uptrend and downtrend lines are established from equilibrium points, (not highs and lows). Thickness of lines illustrates strength of previous price action. Circles are the crossing of uptrend and downtrend, usually resulting in reactions.
Yorum:
The CTA worked well here. Fast moving portions of the chart (as denoted in the rectangles) hit when the company received the catalyst (US Army order). It was outside the rectangle by about 2 weeks but the theory is intact. Where do we go from here? Watch the trendlines.