Stock bouced at a very strong support.
There was a complete change of emotions today, a change of power. ( The bears had control last week and were in power but today with a gap up and with a close for a positive day, the bulls are now in control and have the power. A lot of bears are starting to wonder if the should exit tomorow if the stock move higher and maybe some people took their gains today so this looks strong for a reversal.
When you see a nice downtrend move or uptrend move and then a strong upside move on the next day, it means that something is about to change in the direction of trend and this is what happen today.
There was a complete change of emotions today, a change of power. ( The bears had control last week and were in power but today with a gap up and with a close for a positive day, the bulls are now in control and have the power. A lot of bears are starting to wonder if the should exit tomorow if the stock move higher and maybe some people took their gains today so this looks strong for a reversal.
When you see a nice downtrend move or uptrend move and then a strong upside move on the next day, it means that something is about to change in the direction of trend and this is what happen today.