The stock has been in descending wedge unable to break above the upper trend line.
Now looking like inverse head and shoulder is forming with the right shoulder yet to be completed.
As long as the stock stays above $75 there is a chance of bullish reversal.
$84-$85 area is the resistance area and the neck line of this potential inverse head and shoulder that is forming.
Target 1 - $98
Target 2 - $105
Risk - Fall below $75 and retract to $68.
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
Now looking like inverse head and shoulder is forming with the right shoulder yet to be completed.
As long as the stock stays above $75 there is a chance of bullish reversal.
$84-$85 area is the resistance area and the neck line of this potential inverse head and shoulder that is forming.
Target 1 - $98
Target 2 - $105
Risk - Fall below $75 and retract to $68.
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
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.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
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.