A solid uptrend that's been in place over the medium term with a healthy an expected pullback occurring during the month of October. The interesting part about this is the price tested the trendline and responded with a firm candle in an upward direction.
The short term moving averages of 8 & 21 provided the signal for traders to get in but the aftermath leaves little to be excited about. The shorter moving average of 8 (yellow line) has breached underneath the 21 moving average (blue line) suggesting a bearish sentiment taking control over proceedings.
Considering the placement of price currently and the less than desirable bounce off the trendline with a renewed test happening quite shortly after the initial pullback indicates there could be a lack of conviction in this stock.
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