Searching for the Bottom
I have owned
JKS
in the past and I’m looking for the best entry I can, I think solar is resuming its downtrend and I’m actually short on
ENPH
, but my point here is I’m wondering if we have a 12345 wave here ending in daily bullish RSI divergence. If you’ve read my other posts I’m a big proponent of daily bullish divergence on the RSI to find the bottom. I’m not sure if I’m right but here’s my best conjecture, that we are currently in wave 5 downward, you can see we hit 1.618 on wave 3 and then did the exact 0.382 bounce typical of a wave 4, if we hit my box I’m hoping for a good place of entry.
JKS
in the past and I’m looking for the best entry I can, I think solar is resuming its downtrend and I’m actually short on
ENPH
, but my point here is I’m wondering if we have a 12345 wave here ending in daily bullish RSI divergence. If you’ve read my other posts I’m a big proponent of daily bullish divergence on the RSI to find the bottom. I’m not sure if I’m right but here’s my best conjecture, that we are currently in wave 5 downward, you can see we hit 1.618 on wave 3 and then did the exact 0.382 bounce typical of a wave 4, if we hit my box I’m hoping for a good place of entry.
A couple days ago, SP hit around $22.10 which could be the low, it seems to have completed a 5 wave move (with wave 4 hitting an unusually high Fibonacci of 0.5) with daily bullish divergence, jumping nearly 10% yesterday. The 0.786 of the big wave (is about $17.85, but I may not hit that level). The SP did not hit my target box but I’m pretty satisfied at least at the time being $22.10 being the local bottom.