07/06/2022
Being trendy isn’t necessarily a bad thing…
It’s true — “The trend is your friend.”
And if you’re eyeballing the wider world to broaden your scope, you can be early at identifying where things are headed.
Take Iceland’s treasured musical artist Bjork, for instance:
Well… some trends will just never be in vogue…
Either way, in bear markets, it’s even more important that we pay close attention to themes in order to capture profitable trades…
And with the focus on women’s health due to the recent Supreme Court decision, screening for healthcare specialists is a worthwhile consideration.
Take a look at Aspira Women’s Health, Inc. (AWH).
We’re on the daily chart and there’s a lot to be bullish on in the short term.
Right now, not many stocks can be found in the green Volatility Band/Channel, so when they are, you watch carefully…
Let’s dig into it.
The first thing to note is the long lower wick rejection off of the previously tested demand (circled in blue).
In fact, this didn’t last long and the share price is now moving above yet another prior area of demand, or Order Block.
This is another custom indicator built by Rogue’s Chris Hood.
Resistance is flush with a major psychological level at the $1.00 mark, so there’s plenty of upside from the current share price of $0.7701.
What I like here is that AWH crossed above the 55ema (blue) and we’ve got the 8-13-21 EMA stack (orange, pink, and green, respectively). I mentioned yesterday that this is one of the conditions I like to use for trades…
You could start scaling in small here…
The Squeeze 4-Pack v8.0 really sets off an alarm though. The 5, 10, 15, and 20 periods are all bright green as of yesterday (each row of dots corresponds with the period).
Confirmation?
Similar to Tuesday’s Before the Bell, the composite stochastic (multi-colored line) changed to green and is over the zero line, aiming higher.
There’s one problem with all this (at least for me)… Volume.
We’re still below average here, but there’ve been multiple bursts which may signal a larger, more decisive move to come…
I like it to $1.00.
Keep moving,
(Disclosure: I hold no position in AWH but intend to initiate a position in the next 30 days.)
This material is not an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Any performance results discussed herein represent past performance, not a guarantee of future performance, and are not indicative of any specific investment. Due to the timing of information presented, investment performance may be adjusted after the publication of this report. There can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this communication will be profitable, equal any corresponding indicated historical performance levels or be suitable for your portfolio.
