EMFD Technical Divergence 🏗️
I am tracking Emaar as it enters a critical consolidation phase.
While the long-term trend remains bullish, the short-term indicators are flashing a warning:
Negative Divergence: I am seeing a clear split between price action and momentum.
Both the RSI and Delta Volume are showing negative divergence meaning the price is holding up, but the buying "conviction" is fading. 📉
Correction Risk: This setup often leads to a tactical pullback before a stock can gather the strength to retest its All-Time High (ATH).
Key Levels:
The Pivot: 10.50. If we break below this level this week, the correction is confirmed.
The Target: I expect a retest of the Fibonacci level at 10.00. This would be a healthy "reset" for the bullish wave. 🧱
My Take: Don't chase the consolidation.
If 10.50 fails, look for a better entry at the 10.00 psychological support.
A healthy correction here is better than a forced rally on weak volume. 🧘♂️🎯
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I am tracking Emaar as it enters a critical consolidation phase.
While the long-term trend remains bullish, the short-term indicators are flashing a warning:
Negative Divergence: I am seeing a clear split between price action and momentum.
Both the RSI and Delta Volume are showing negative divergence meaning the price is holding up, but the buying "conviction" is fading. 📉
Correction Risk: This setup often leads to a tactical pullback before a stock can gather the strength to retest its All-Time High (ATH).
Key Levels:
The Pivot: 10.50. If we break below this level this week, the correction is confirmed.
The Target: I expect a retest of the Fibonacci level at 10.00. This would be a healthy "reset" for the bullish wave. 🧱
My Take: Don't chase the consolidation.
If 10.50 fails, look for a better entry at the 10.00 psychological support.
A healthy correction here is better than a forced rally on weak volume. 🧘♂️🎯
If you like my posts, please follow and boost 🙌
🎁 Get a $15 discount on your next subscription:
🔗 tradingview.com/pricing/?share_your_love=mnmabroukw36ix ✨💸
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כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.