Market Overview for PROVETRY: Volatility and Divergence in a 24-Hour Window

Summary
• PROVETRY declined over 24 hours, opening at $23.24 and closing at $23.24 with a low of $22.56.
• Strong bearish momentum emerged around 19:00–19:45 ET, followed by a partial rebound.
• Volume spiked during the initial bearish move, showing active selling pressure.
• Volatility expanded with a wide 15-minute range as low as $22.56 and high of $23.56.

PROVETRY opened at $23.24 on 2025-11-12 at 12:00 ET and traded within a 24-hour range of $22.56–$23.56, closing at $23.24 on 2025-11-13 at 12:00 ET. Total volume for the 24-hour period was 113,028.2 units, with turnover reaching $2,630,957.60. The price moved in a volatile range, with bearish momentum dominating the early part of the period, followed by a partial consolidation.

Over the past 24 hours, PROVETRY formed several notable candlestick patterns, including bearish engulfing patterns, a morning star formation at the end of the session, and several doji indicating indecision. Resistance levels appear around $23.56 and $23.34, while the $23.00–$22.83 range seems to offer support. The price retraced multiple times to the 61.8% Fibonacci level from key bearish swings, suggesting the area may offer some temporary support or resistance.

Momentum indicators show mixed signals. The RSI briefly dipped into oversold territory around 19:45 ET before rebounding, while the MACD histogram turned negative and remained bearish for most of the session. Bollinger Bands widened as volatility increased, particularly during the bearish phase, and the price spent a significant portion of the session near the lower band. The 20-period moving average crossed below the 50-period line, suggesting a potential short-term bearish bias.

Volume spiked during the initial bearish phase and again near the end of the session, but price failed to follow through during the second wave. This divergence may indicate weakening bearish conviction. The 50-period moving average currently resides at $23.10, while the 20-period line is slightly above it, suggesting a potential for short-term consolidation or a test of key support levels.

Backtest Hypothesis

To assess the potential of a Morning Star-based strategy, we would first need to confirm that the symbol "PROVETRY" is correctly recognized by the market data engine or provide a CSV/JSON file containing the OHLC data for this asset. Once we have a validated time series, we can identify all instances of the Morning Star pattern over a defined backtesting period (e.g., 2022–2025). A backtest would then evaluate the performance of a strategy that "buys on Morning Star confirmation and sells at the next-day close." The results would include key metrics such as CAGR, max drawdown, and hit ratio to compare the strategy's performance against a buy-and-hold approach.