Hello traders, ORMAT TECHNOLOGIES is at a very important moment in its history. We can witness a new historical high. It is in fake bearish composition with a big sell volume giving way and an upside down hammer candle. Zooming in on the TIMEFRAME M1 we see a marubozu with a fake start of sales volume, it goes to its last lowest which is below the bottom of the bollinger. In full bearish swallowing it comes back to test the top of the bollinger then the VWAP to access the top of the range area for a new test of it.
It is very plausible to breakout the price at the same time the zone to land on the high which follows.
And if investors are really back to trading come to the top of the second range to test it before breakout. Then reach the bullish channel top with a symbolic number of 95.00.
Please LIKE & FOLLOW, thank you!
It is very plausible to breakout the price at the same time the zone to land on the high which follows.
And if investors are really back to trading come to the top of the second range to test it before breakout. Then reach the bullish channel top with a symbolic number of 95.00.
Please LIKE & FOLLOW, thank you!