Jun. 29 at 8:24 PM
$BLDE This is how I read the candles in this circle.
First, the 5-day EMA (green line) fell below the 110-day SMA (yellow line). That is negative momentum, and I want to see that reverse to show a possible uptrend.
Once it started to downtrend at that signal, I look for support, something it can bounce off of. A natural support is the 21-day SMA (orange line). That's also called the pivot moving average and often stocks pivot off it, one way or another. Look how many times it pivoted off it before a bullish engulfing candle said "nope, we are going higher", and it did. The last candle in this circle doubled the volume as the 5-day crossed above the 10-day, into positive momentum.
This doesn't guarantee an uptrend, but if this opens at 50% of Fridays candle or higher, with volume, my guess it will trend upwards. My alert is 4.25
