Yesterday we showed a point-and-figure chart with a triple bottom and a renko illustration confirming this bearish signal. However, this isn’t always the case. Look to the quadruple top with Hewlett Packard in the P&F chart. The daily renko-chart however is not confirming this bullish signal. On the contrary: the CCI is overbought and the trend is not positive – for the moment.
So based on the diverging information of P&F and renko, I wouldn’t touch this one.
So based on the diverging information of P&F and renko, I wouldn’t touch this one.
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