$APA wrapped up the week on an interesting note—a bullish hammer formation right around the 50 EMA. What caught attention? Sellers initially drove the price down, but they couldn't hold the line. Buyers came in hard at the close and flipped the script.
Technically speaking, this candle setup is worth watching. It signals a potential shift in momentum, with demand stepping up when price tested that key moving average support. The wick shows the intraday pressure, but the recovery into the close? That's the real story. When sellers fail to maintain control at support levels and buyers pile in aggressively, it often sets up interesting opportunities ahead.
$APA wrapped up the week on an interesting note—a bullish hammer formation right around the 50 EMA. What caught attention? Sellers initially drove the price down, but they couldn't hold the line. Buyers came in hard at the close and flipped the script.
Technically speaking, this candle setup is worth watching. It signals a potential shift in momentum, with demand stepping up when price tested that key moving average support. The wick shows the intraday pressure, but the recovery into the close? That's the real story. When sellers fail to maintain control at support levels and buyers pile in aggressively, it often sets up interesting opportunities ahead.