[disclaimer: this analysis only focuses on oscillators]
RSI, Money Flow, and CCI have all been oversold recently.
-- RSI shows a strong uptrend.
-- Money Flow Index shows a slightly more complex pattern:
- since last overbought episode: downtrend,
(2); correction; downtrend,
(1); correction. for a total of
3 oversold episodes.
- the most recent correction is associated with recuperation from the recent crash through the resistance at $4.60
- since then there is a continuation pattern (read: descending triangle) which is almost ready to breakout.
-
due to the 3 recent oversold episodes, the breakout is likely going to be bullish-- CCI has peaked into overbought territory with the recent movement up to $4.80 for the first time since the recent 30 cent microbubble (shown in chart), having been majorly oversold the entire time since. this is a bull signal.
so, double ramp?