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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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.