COLD in a hot uptrend
It’s interesting to study what happens when we see a price breakup. We have marked in the oblong box this period just before the breakup till it was fully developed.
The first indication came from COLD’s Relative Strength, when it started moving up and it broke above its 20-day exponential moving average.
Right after that, we note that price moved above its 10- and 20-day exponential moving averages and reached the upper Bollinger Band.
Another characteristic is that this move up was accompanied by heavier than usual volume, which comes as validation of the bullish trend.
At about the same time, MACD turned up and crossed above its signal line to a positive territory.
Following that, price is currently moving in a strong bullish channel, between its 10-day exponential moving average and the upper Bollinger Band.