Orchid (OXT)On the above 8-day chart price action has corrected by 95% since the sell signal (will show elsewhere). Today is great long opportunity. Why?
1) RSI and price action resistance breakout.
2) Multiple oscillators print bullish divergence across a 3-month period.
3) Seller weakness. Notice the long candle wicks into seller territory?
4) Price action prints support on past resistance since breakout. Look left.
Is it possible price action falls further? Sure.
Is it probable? No.
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: Now, don’t sit on your hands.
Return: Will say elsewhere.
