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LOCAL TREND SHIFT? for the first time in two weeks, $BTC is showing a change in local structure. higher lows forming, ascending trendline building strictly local, of course. the macro downtrend still stands but it’s something bulls now need to defend this trendline at all costs if it holds,...

58,556 views • 4 months ago •via X (Twitter)

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Qullamaggie shows Relative Strength and Momentum Setups “It’s not rocket science. They are flagging and they’re showing relative strength. These are two of the strongest stocks in the markets right now. LK - had a big IPO base. Then it ran on earnings. Pulled back to support. Went back into range and it has been building higher lows for the past three months. And now it has a range here. And the markets have thrown everything they had against this stock. China, all the coronavirus, they closed a lot of businesses, and this thing is just not moving. The China markets went down, the US markets went down, and it’s just holding inside of this range. What does that tell you. When the markets breathe a little bit and they start going higher, where do you think this thing will go if it breaks higher. I think it’s gonna go a lot higher. If they can’t bring it down with all the bad news, where is it gonna go - probably higher. Same thing NIO. It’s a big mover from the lows one of the biggest momentum stocks in the market. Had a lot of bad news there’s been a lot of speculation about bankruptcy. but then they got some financing and now it’s just flagging again. It couldn’t go down with all the shit that’s been happening in the market. They’ve thrown everything at it. It can’t go down. Where do you guys think it will go next time it breaks out. It’s relative strength and momentum. That’s it and it’s getting super tight. Look at how tight it is looks great on the weekly chart. Getting really tight. It’s a five star flag - stock with high momentum showing big relative strength during a bad market period and it’s just getting tighter and tighter building higher lows. This thing has been building higher lows for four months. LK has been building higher lows except for this muddy waters hit piece that hit it on this day here, where it briefly undercut this higher lows. But it’s been also for 3 4 months been building higher lows. What does that tell you - that tells you that buyers are coming in at higher levels every time the stock dips, which means there’s accumulation beneath.”

Lone

10,561 views • 2 months ago