Cycle Trading: Buy Signal for Robotics
|We discussed on 11/26 how Robotics have entered into a new bull market.
Well Robotics delivered some buy signals on Thursday.
Robotics have been declining into a daily cycle low. They printed their lowest point on Wednesday, closing below the 50 day MA. They formed a swing low on Thursday, closing back above the 50 day MA. This sets up a low risk entry with a stop being placed below Wednesday's low.
Robotics have been in a daily uptrend prior to declining into Wednesday's low. The recovery of the 50 day MA looks very similar to the two previous intermediate lows that printed in April and July. And a close back above the upper daily cycle band will re-establish the daily uptrend.
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