NuScale Power (SMR) - Cup and Handle Breakout, Target $25 - $40
Overview:
NuScale Power Corporation (NYSE: SMR) is showing a bullish Cup and Handle pattern, a classic setup that often precedes a significant upward move. The cup has formed over the past few months, and the stock is currently in the handle formation, signaling a potential breakout.
Technical Setup:
Pattern: Cup and Handle
Breakout Level: ~$20.31 (current resistance area)
Target Zone: $25.37, $33.65, and $40.57 (potential targets based on previous resistance levels and measured move)
Handle Formation: The current consolidation in a descending channel within the handle adds to the potential breakout strength.
Price Action:
A breakout above the $20.31 level would confirm the cup and handle pattern, with the first target around $25.37 and higher targets up to $40.57.
The price could continue to consolidate within the handle for the next couple of weeks before making a decisive move, making now a good time to watch for a breakout.
Risk Management:
A drop below the $18 level would negate the setup, suggesting further consolidation or a potential reversal.
Catalysts:
Watch for upcoming earnings and other news that could act as a catalyst for the breakout.
NuScale Power Corporation (NYSE: SMR) is showing a bullish Cup and Handle pattern, a classic setup that often precedes a significant upward move. The cup has formed over the past few months, and the stock is currently in the handle formation, signaling a potential breakout.
Technical Setup:
Pattern: Cup and Handle
Breakout Level: ~$20.31 (current resistance area)
Target Zone: $25.37, $33.65, and $40.57 (potential targets based on previous resistance levels and measured move)
Handle Formation: The current consolidation in a descending channel within the handle adds to the potential breakout strength.
Price Action:
A breakout above the $20.31 level would confirm the cup and handle pattern, with the first target around $25.37 and higher targets up to $40.57.
The price could continue to consolidate within the handle for the next couple of weeks before making a decisive move, making now a good time to watch for a breakout.
Risk Management:
A drop below the $18 level would negate the setup, suggesting further consolidation or a potential reversal.
Catalysts:
Watch for upcoming earnings and other news that could act as a catalyst for the breakout.
Trade fermée: cible de profit atteinte
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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.