Watch This One for a Buy Signal in the Near Future
On Tuesday we looked at a possible buy signal on AMZN.
Today, we’re going to look at another stock which is pulling back to its Keltner Channel midline: Trillium Therapeutics, Inc. (TRIL). The company develops therapies for the treatment of cancer.
TRIL had already been moving higher when it broke out accompanied by a huge spike in volume.
It quickly became overbought as it shot outside its upper Keltner Channel.
Let’s see what the daily chart of TRIL looks like now:
TRIL pulled back as profit taking came in, and the stock now appears to be headed back to the midline of its Keltner Channel.
The midline is a prime spot to watch for a buy signal, and the minimum first level to watch, if the upside continues, would be the previous highs.
Trade Smart,
Michael Saul
Analyst, Chart of the Day
The post Watch This One for a Buy Signal in the Near Future appeared first on Laissez Faire.
Source: http://freedombunker.com/2020/09/30/watch-this-one-for-a-buy-signal-in-the-near-future/
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