Feb. 16 at 11:38 PM
$ARTNA 💧 Artesian Resources
After travelling cleanly along the rising support channel for months, price just pulled back for a proper retest of the trendline channel. That retest held. Structurally this looks less like weakness and more like a "spring" loading phase before the next leg higher.
On the right side volume profile, you can clearly see strong participation around the 30 to 34 zone. That high volume node suggests acceptance and accumulation rather than distribution.
We also had a previous bullish divergence on RSI during the prior low, which marked the shift from downside pressure to constructive base building. Now momentum is starting to curl up again, and stochastic is pushing higher.
📐 Rising channel retest holding
📊 Strong volume node supporting price
🔁 Prior bullish divergence confirmed structure
I am going in here for a long trade. Possibly around a 50 percent move if the upper channel expansion plays out.
⚠️🚧 No financial advice 🚧⚠️
