’s side, market indicators revealed a completely different story. As per market indicators, bears had a massive advantage over the bulls in the market.
The Money Flow Index was resting way below the neutral mark, a negative signal. The Moving Average Convergence Divergence ’s reading also complemented that of the Money Flow Index and suggested sellers’ edge in the market. The Exponential Moving Average Ribbon displayed a bearish crossover, further increasing the chances of a continued downtrend in the coming days. All these indicators, when coupled with the Bollinger Bands findings., indicated that CAKE’s price was in a high volatility zone. This suggested that investors might have to strive a bit longer for better returns.Subscribe to get it daily in your inbox.