I am learning to read stock and predict its future movements. Starting this weekly series of posts which might act as a reference, in the future, to see if the prediction was right or wrong.
This weeks stock I have taken up is THRY ( Thryv Holdings). Below is screen of THRV from trading view
Observation
The stock price bounced upwards after touching the EMA 50
MACD has crossed below signal line
There is a RSI divergence observed.
Prediction
Since there is a divergence in RSI and MACD cross over a minor downward movement is still expected till $31.5 where it might touch the EMA 50.
Once it touches the EMA 50 the price might see an upward movement again and could cross the recent peak.
Action
I am planning to buy the call option for November when the price is close to EMA 50 and better MACD pattern
Will comment if I actually end up buying the call option this week.
Since I am still learning the observations and predictions might be very simplistic. Please share your input in comments
