Does $Now have further upside, or is it nearing a potential top?
To project targets, I am using the following methods:
Cup and Handle Pattern
If we consider the price range of $709.02 - $338.24 as forming a cup and handle pattern, the price movement represents approximately a 52% increase.
Projecting this on the upside sets a target of around $1078.79, which was achieved last week.
A weekly close above $1122.44 will signal a potential next target at $1316.16, derived from the 2.61% Fibonacci extension applied to the range of $709.02 - $338.24.
Fibonacci Extensions
Using Fibonacci extensions on the same price range, the 2.61% target aligns with $1316.16 as the next significant resistance level.
Key Levels:
Support: The uptrend remains intact as long as $906 holds.
Downside Risk: If $906 is breached, the next downside target is $709.02.
Cup and Handle Pattern
If we consider the price range of $709.02 - $338.24 as forming a cup and handle pattern, the price movement represents approximately a 52% increase.
Projecting this on the upside sets a target of around $1078.79, which was achieved last week.
A weekly close above $1122.44 will signal a potential next target at $1316.16, derived from the 2.61% Fibonacci extension applied to the range of $709.02 - $338.24.
Fibonacci Extensions
Using Fibonacci extensions on the same price range, the 2.61% target aligns with $1316.16 as the next significant resistance level.
Key Levels:
Support: The uptrend remains intact as long as $906 holds.
Downside Risk: If $906 is breached, the next downside target is $709.02.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.