Generac (GNRC)

DISCLAIMER: THE INFORMATION ON THIS BLOG IS FOR EDUCATIONAL PURPOSES ONLY. NO FINANCIAL ADVICE IS GIVEN BY ANY MEANS AND EACH INDIVIUAL IS RESPONSIBLE FOR HIS OR HER OWN ACTIONS.

2022-06-19

Sold-off like so many other names. Usually a lot of volatility when price bounces at or around falling MA's so need to take that into account if trading under those cirumcstances.

2022-06-09

Current position: None

Initial stop-loss: -

General Holdings spent the years between 2014-2019 building a large base and has been in a more obvious uptrend since the breakout in 2019.

Price topped out in november 2021 and since then corrected some 60% down to a potential support area around fib 38.2 (log) measured from the last pullback before price left it's big base from 2014- 2019.

The momentum on the daily timeframe has reversed to the upside after a bullish regular divergence, but the momentum waves during price movements up has not yet surpassed prior price swing points thus creating hidden negative divergences. 

Indications of impulsive price action for either an A or a first trend wave can be seen on the lower timeframes corresponding to the daily strength (Bollinger band climbing).