New Mystery Chart!
For those new to the exercise, we take a chart of interest and remove the x/y-axes and any other labels that would help identify it. The chart can be any security in any asset class on any timeframe on an absolute or relative basis. Maybe it’s a custom index or inverted, who knows!
We do all this to put aside the biases we have associated with this specific security/the market and come to a conclusion based solely on price.
You can guess what it is if you must, but the real value comes from sharing what you would do right now. Buy, Sell, or Do Nothing?
To us this looks like a potential bottom as prices test long-term support and momentum diverges. With a flat 200-period moving average and a more or less rangebound trading environment, the reward/risk is skewed in the favor of bulls as long as prices are above their recent lows.
Click on chart to enlarge view.
We’re buyers of this name, but what do you think?
Tweet us @allstarchartsIN or email email@example.com and check back in Thursday to find out what chart this is.