Hello traders and investors! We nailed another target, and this time, on WISH.
In our last analysis (link below this post, if you missed), we said that if WISH trades above $ 11.92, the $ 15 is the next target. Today, it did hit our target, 14 days after my analysis. A quick swing trade.
The reasons for this were quite simple: 1) The $ 11.92 was a pivot point in the 1h chart. 2) The volume was interesting. 3) The $ 15 area is a key point for WISH, as the daily chart shows:
As evidenced by the black arrows, the $ 15 area was support and resistance multiple times in the past, and it was an obvious target.
The volume is quite high, and the odds are that WISH will defeat its resistance at $ 15 and seek the $ 20.11, the question is if it’ll do this with or without a pullback.
What’s more, I see the $ 15 area as a neckline for a huge IH&S chart pattern.
If you liked this analysis, remember to follow me to keep in touch with my free analysis, and support this idea if it helped you!
Thank you very much!
In our last analysis (link below this post, if you missed), we said that if WISH trades above $ 11.92, the $ 15 is the next target. Today, it did hit our target, 14 days after my analysis. A quick swing trade.
The reasons for this were quite simple: 1) The $ 11.92 was a pivot point in the 1h chart. 2) The volume was interesting. 3) The $ 15 area is a key point for WISH, as the daily chart shows:
As evidenced by the black arrows, the $ 15 area was support and resistance multiple times in the past, and it was an obvious target.
The volume is quite high, and the odds are that WISH will defeat its resistance at $ 15 and seek the $ 20.11, the question is if it’ll do this with or without a pullback.
What’s more, I see the $ 15 area as a neckline for a huge IH&S chart pattern.
If you liked this analysis, remember to follow me to keep in touch with my free analysis, and support this idea if it helped you!
Thank you very much!
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