Loading ...THE DUST Chart…Could be a double bottom…
http://stockcharts.com/h-sc/ui?s=DUST&p=60&yr=0&mn=1&dy=15&id=p96324411836&a=388664339&listNum=1
#1 Stoch has left green
#2 MACD getting close to cross over
#3 NUGT channel trend line going down is providing resistance
#4 TSI bullish cross
#5 Need RSI to breach 50
#6 Elder bar needs to turn green
#7 Final confirmation is 13/34 cross
Sir Eagle, are you saying that DUST may make a double bottom at 11.07?
This wave down has made a 50% retrace of the wave up. In EW this is a parameter for completion of the 2nd wave. Next would be the 3rd wave (longest and strongest). Stoch (early indicator) has flashed an early buy signal and the MACD wants to cross up and over. When these two simultaneously flash a buy this is a strong signal. Ideally, the gap needs to be filled; however, everyone is looking for that scenario. Let the price action guide you, just be aware. One could wait for the stoch to cross 50 for a stronger buy signal and then the MACD to cross zero. Of course, last is the 13/34 cross the strongest of confirmations.
To answer your question between 12.80 and 11.70 I expect a bottom. Would be nice to build a RSI positive divergence to help denote a bottom.
RJ, we do not have a defineable pattern to follow at the moment. Nor a divergence to help denote a bottom. Let’s just wait for the “dust” to settle. Just rambling with possibilities.