What's up traders!
I have something a little different today. This is a great example of a Double Top pattern. When analyzing a double top pattern you usually wait for a break of that resistance or see if price bounces of it again.
We also have another pattern as well in this chart. This pattern is called the cup and handles pattern, When seeing this pattern people usually look for price to continue to the upside.
We are currently in an uptrend and have been moving somewhat sideways after the 65% move in October.
On the daily we also have a pullback to the 10 and 20EMA which is a good sign for a continuation to the upside.
I predict price will go up and test that resistance at around $267 and then possibly struggle to get though and move sideways for a little bit, but after that i think price will skyrocket through that resistance.
After that I think price could reach $300 which would be a gain of around 12% within a few weeks. There is also good volume coming back to those EMAs.
On the 1H we also have the 200SMA coming up underneath price which could cause a little bounce reaction off it.
They have earnings tomorrow so we'll see how that goes.
What is your opinion on this setup? Let me know in the COMMENTS! And it would be super helpful if you liked and followed!
Thank you for reading!
I have something a little different today. This is a great example of a Double Top pattern. When analyzing a double top pattern you usually wait for a break of that resistance or see if price bounces of it again.
We also have another pattern as well in this chart. This pattern is called the cup and handles pattern, When seeing this pattern people usually look for price to continue to the upside.
We are currently in an uptrend and have been moving somewhat sideways after the 65% move in October.
On the daily we also have a pullback to the 10 and 20EMA which is a good sign for a continuation to the upside.
I predict price will go up and test that resistance at around $267 and then possibly struggle to get though and move sideways for a little bit, but after that i think price will skyrocket through that resistance.
After that I think price could reach $300 which would be a gain of around 12% within a few weeks. There is also good volume coming back to those EMAs.
On the 1H we also have the 200SMA coming up underneath price which could cause a little bounce reaction off it.
They have earnings tomorrow so we'll see how that goes.
What is your opinion on this setup? Let me know in the COMMENTS! And it would be super helpful if you liked and followed!
Thank you for reading!
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Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.