Kicker-like Surge Shifts Tone
The latest daily candle resembles a bullish kicker, gapping above the previous day's range with strong follow-through—a possible sign of sentiment shift. Notably, this move came with an RSI jump from the equilibrium zone of 50 to near 60, suggesting growing momentum. Price has pushed through immediate resistance near $14.00 while holding firmly above the rising 50-DMA. RSC with SPX is indicating a revival in strength.
📆 Weekly Chart Overview
After a brief multi-week pullback, NWG appears to be stabilising just above its 20-week moving average. The latest weekly candle shows a strong rebound, closing near the highs and gaining over 6%, suggesting renewed buying interest. RSI has turned upward from the 60 zone, indicating momentum may be regaining strength. This price action, coupled with the overall trend structure, suggests the broader uptrend remains intact and buyers may be attempting to reassert control.
Gautam Mazumdar
The latest daily candle resembles a bullish kicker, gapping above the previous day's range with strong follow-through—a possible sign of sentiment shift. Notably, this move came with an RSI jump from the equilibrium zone of 50 to near 60, suggesting growing momentum. Price has pushed through immediate resistance near $14.00 while holding firmly above the rising 50-DMA. RSC with SPX is indicating a revival in strength.
📆 Weekly Chart Overview
After a brief multi-week pullback, NWG appears to be stabilising just above its 20-week moving average. The latest weekly candle shows a strong rebound, closing near the highs and gaining over 6%, suggesting renewed buying interest. RSI has turned upward from the 60 zone, indicating momentum may be regaining strength. This price action, coupled with the overall trend structure, suggests the broader uptrend remains intact and buyers may be attempting to reassert control.
Gautam Mazumdar
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.