Short term setup looking encouraging, page-8

Well I’ll have to be far more vigilant in looking for what I call my “Bottom Fishing Setups” (BFS), see daily chart for GEV shown below.  It looks like the GEV SP is getting ready to move higher.
The BFS setup occurred on 03/09 and was confirmed on the SP breaking above the 50 SMA the following day.



In short the BFS includes the VSA sign of strength (SOS) which was the Ultra High Volume down candle on 07/08 (Stopping Volume), followed by the SP trading around and preferably above the Close of that candle, followed by a break of the down trend line and the 50 SMA, and with the WaveTrend momentum indicator moving up from the oversold area.  Combined with this we had the inverse head and shoulders pattern that @13^th identified in his/her post.

The H&S pattern target is around the 29c level.  The SP may hit significant resistance at the 22c level and the 26.5c level.  Both these levels are associated with prior Very High Volume Closes as can be seen on the chart.  GEV is now on my “watch closely” list.  I’ll be looking for a good volume Close above the 22c level.  The SP is now in uptrend as well, after being in down trend since 12/02/2018.

Good luck everyone – all the above is only all IMO of course.