Previous triangle breakout target reached and price has retraced and resting on support around $9.25.
Now it looks like we have a rounding bottom or saucer with the rim around $12.10ish.
Rounding bottoms are typical reversal pattern, when the price breaks above the rim which is $12.10ish the stock can run to $18.
Can it happen? Who knows.
Target 1 - $12
Target 2 - $16.50
Target 3 - $18
Risk - Break below $9. or failure to break above $12.
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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 it looks like we have a rounding bottom or saucer with the rim around $12.10ish.
Rounding bottoms are typical reversal pattern, when the price breaks above the rim which is $12.10ish the stock can run to $18.
Can it happen? Who knows.
Target 1 - $12
Target 2 - $16.50
Target 3 - $18
Risk - Break below $9. or failure to break above $12.
———————————————————
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.