Jan I did a full analysis of TALV and (so far) the bullish bias has been correct. The original analysis cab be viewed here
Today my suggested target around the fib cluster at 360 was hit – so where from here?
– I believe we are due a correction so either take profits, hold your position or look to re-enter long at a more favourable price. When I look through the bullish/bearish confluences, all the bullish views point towards the longer-term and the bearish point towards the shorter-term (i.e. any time now!). The main warning signal comes from the price oscillator – so we need to monitor price to confirm when this correction is over, before looking for further bullish signals to either re-enter long or add to positions.
– Look at the resistance levels below and if we see any buy signals within these areas we can then target the listed resistance levels.
– We can confirm the breakout was on high volume with OBV
– ADX is rising to confirm trend strength
– Price now above 50sMA and 200sMA
– MACD confirms positive momentum as MACD is above zero line and above signal line
– 13 week (3 month) momentum is now bullish (above zero line)
– Ichimoku has also provided its most reliable bullish signals: (Ichimoku guide can be viewed here
– Chikou Span, price above Kumo
– Tenkan Sen above Kijun Sen and both above Kumo
– Price above Tenkan Sen and Kijun Sen
– Price is at a historical extreme on the trend oscillator which suggests a return towards its own 20sMA – The last time we reached this level there was a hard, deep correction.
– A confluence of resistance areas can be viewed (below) from Kumo, Volume Profile and previous resistance levels.
– 8-day momentum is showing signs of divergences
400 – 415: Volume profile shows above average activity within this range. Weekly Kumo also within this area.
396: Previous support may become resistance
335: 200sMA and 23.6% Fibs
300-303.7: Round number, Kumo and 38.2% Fibs
250: Previous breakout zone