(i) There is a cup and handle formation.
(ii) Price bounced from a key support level with multiple bottoms (125 price region).
(iii) On 1 September 2023, price gapped up.
(iv) Squeeze Momentum indictor on daily chart has turned dark red from red, showing decreasing bearish momentum. On weekly chart, it has just turned green, showing increasing bullish momentum.
(v) RSI formed a double bottom in the region around 50. RSI has gone above signal line.
(vi) Price above 20/50/100/200 EMAs.
In addition to the technical indicators, fundamentals of ARCH are strong: ROIC 64%, net income 36% and increasing revenue.
(ii) Price bounced from a key support level with multiple bottoms (125 price region).
(iii) On 1 September 2023, price gapped up.
(iv) Squeeze Momentum indictor on daily chart has turned dark red from red, showing decreasing bearish momentum. On weekly chart, it has just turned green, showing increasing bullish momentum.
(v) RSI formed a double bottom in the region around 50. RSI has gone above signal line.
(vi) Price above 20/50/100/200 EMAs.
In addition to the technical indicators, fundamentals of ARCH are strong: ROIC 64%, net income 36% and increasing revenue.