Long
Waves to 17 USD or more!! Daily chart shows pennant formation
Mis à jour
Summary
Pennant formations do not guarantee a bullish breakout but often times indicate a previous trend continuation. I believe Waves to breakout in a bullish fashion. I'm in with 110 waves coins at 12.20 USD. Good luck!
Price Target:
Based on the daily charts we can hope for a bullish breakout. In this case the first target level would be 17 USD. Some consolidation would probably take place there and then test the low 20's. How did I get my target price? There are generally two methods. One is to draw a continuation trend from the last successive highs. The other method is to take the width of the current pennant and apply that to the breakout point. I chose 17 USD as a first target level because it has shown to be a previous resistance level.
References:
[url=http://stockcharts.com/school/doku.php?id=chart_school%3Achart_analysis%3Achart_patterns%3Asymmetrical_triangle_continuation
Pennant formations do not guarantee a bullish breakout but often times indicate a previous trend continuation. I believe Waves to breakout in a bullish fashion. I'm in with 110 waves coins at 12.20 USD. Good luck!
Price Target:
Based on the daily charts we can hope for a bullish breakout. In this case the first target level would be 17 USD. Some consolidation would probably take place there and then test the low 20's. How did I get my target price? There are generally two methods. One is to draw a continuation trend from the last successive highs. The other method is to take the width of the current pennant and apply that to the breakout point. I chose 17 USD as a first target level because it has shown to be a previous resistance level.
References:
[url=http://stockcharts.com/school/doku.php?id=chart_school%3Achart_analysis%3Achart_patterns%3Asymmetrical_triangle_continuation
Transaction en cours
Note
For some reason the links did not show but here are my references:investopedia.com/terms/p/pennant.asp?lgl=rira-layout
stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:symmetrical_triangle_continuation
Note
Market is in global downtrend! Hold until waves gets back to the price you bought it at or higher!
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.