Quick check in on EA here.
Things are actually looking quite bullish to me right now.
On the larger time frame,...
Since July, this stock has been getting slaughtered, but only canceling out some gains this stock made in the early part of this year...really just bringing this into a likely ranging pattern that should be pretty easy to trade. Right now it is way at the bottom of the range, with very aggressive selling that is a little too hard too quick in my opinion.
If we zoom in and look for the potential short term trade opportunities,...
Looks like the stock is poking out of the week long downtrend, and attempting to make a stand. Does the volume and momentum confirm this?
Yes it does,...so much actually point to this stock making a reversal here.
The OBV has been trending up, even though the stock was going down, creating a divergence. Now that we have hit an area of support, the price pokes though the down trending line, the OBV line appears to be holding,...and the volume is increasing. I think this stock is the most likely stock for a bullish opportunity right now.
Just to get a devils perspective, If I change my layout to try to get a bearish outlook, I could look at it like this,...
Here, It would look rather concerning that the OBV trend line has broken, and retested, and looks ready to plummet for another leg down. I would argue against this though as the volume has a yuge green bar to finish off the last one, and the support has more wiggle room to the downside allowing breathing room for this stock to slow the down trend down and reverse. Even with this bearish bias, I would argue it shows a downtrend that is ending, not beginning.
Thanks for reading,
-Icee-
Please leave me an upvote and remember this is not trading advice.