The Q's have spent all week within an ever-narrowing range (between about $28 and $29.50 and the narrowest range on a weekly basis all year). Today's range was a little wider, testing the upper parameters, but nothing decisive. We are achieving a higher high, higher low scenario though, and our short-term moving averages are bullish:
Today's trading was mostly contained in a slightly positive-sloping channel, with the exception of the open and a late-afternoon test of previous highs (where price was met with resistance and rejected at
R1). Today's double top, combined with a negative momentum divergence was a hint at lower prices later in the afternoon where we closed back within the channel.
Today's trading was mostly contained in a slightly positive-sloping channel, with the exception of the open and a late-afternoon test of previous highs (where price was met with resistance and rejected at R1). Today's double top, combined with a negative momentum divergence was a hint at lower prices later in the afternoon where we closed back within the channel.
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