DOW is looking good with a little more work to do for a buy entry setup

Potential Buy Alert


DOW – Downer Limited

Stock : DOW – Downer Limited

Current Price : 6.42

Status : On watch for higher low

DOW is showing some strong price action which may push price up through recent 7.18 highs. We are now watching for a push up through 6.46 and then a higher low to build for the buy entry setup. We want to see the higher low as evidence of buyers stepping up as price still has some work to do before a buy entry. If we do not see a push through 6.46 and a push lower below 6.10, then we may see a deep correction towards 5.20.