Oct. 17 at 2:50 PM
Thanks to a down Friday across most of the markets generally,
$SUNE’s Rising Three pattern appears to be morphing into a Bull Flag with four down days, even though today’s candle forms a good base for the finish of a Rising Three.
I’m continuing to hold
$SUNE though because it is respecting support at the 20 and 50-Day SMAs. As those two moving averages have formed a bullish Golden Cross yesterday, they were likely too tempting a target for day traders not to sell or short
$SUNE’s price to — but only for a brief touch as the charts are showing.
Also, this current uptrend of
$SUNE has consistently preferred to start or resume upswings on Mondays rather than Fridays, having done this twice over the past three weeks.
Finally, active traders of
$SUNE seem to be paying attention to its daily Ichimoku Cloud, as
$SUNE’s price has rebounded and is resting near the Cloud’s bottom.
Things will probably be quiet with
$SUNE for the rest of Friday now, with the uptrend resuming Monday.
