BAT 1D Price Analysis
Price has formed a very nice looking bull flag on the 1D. In the yellow box we see strong reversal candles. Not quite tweezer bottoms but close enough. The bulls moved in as soon as the daily bear candles closed and began buying it up over the past 4 days.
Double bottom and a bear cross seen on the stochastic is a great bullish signal however the TRIX and MACD have yet to issue a buy signal.
According to the stochastic RSI the price will most likely rise. The question to be asking though is will it break to the upside or test the top of the flag and fail? We could see an extension to the .618 fib level if it break up and runs.
If the top of the flag is tested and rejected I expect the price to continue is consolidation down the flag channel.
Double bottom and a bear cross seen on the stochastic is a great bullish signal however the TRIX and MACD have yet to issue a buy signal.
According to the stochastic RSI the price will most likely rise. The question to be asking though is will it break to the upside or test the top of the flag and fail? We could see an extension to the .618 fib level if it break up and runs.
If the top of the flag is tested and rejected I expect the price to continue is consolidation down the flag channel.
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