Avnet uptrend retreat - Hammer @50sma

AVT has been in a consolidation pattern since July 10th, with a bull technicals behind.

Last candle today is a hammer. Showing buyer strength when price fell to $43.6.

Technical data

• Price just below SMA(50)
  
• Price just above SMA(200)
  
• RSI @56 trending higher
  
• OBV confirming trending higher
  
• Directional move index turned positive
  

If we can continue above the SMA(50); that would confirm the trend.

**I recommend not buying until we see Monday sentiment after Trump's meeting with Xi.



Happy trading!
dorfmanmaster