Currently in a rising channel and at the neckline of a 9+ month inverse head & shoulders . Right shoulder was a bounce off the $0.90 support and the 200-day moving average. A close above $1.55 would be the highest close since 04 Sep '18.
Current price: $1.48
Target: $2.50
Gain: ~69%
Innovative tech + flying under the radar = undervalued
Current price: $1.48
Target: $2.50
Gain: ~69%
Innovative tech + flying under the radar = undervalued
تعليق:
Looks like the alternate scenario has occurred. We tested resistance multiple times but couldn't break it. Price fell to the lower channel boundary and quickly bounced. If we stay within the rising channel, we're eventually going to get squeezed between the lower boundary and resistance, which will lead to an explosive move.
Things I'm looking for:
- Retest neckline
- Break $1.79 resistance
If we can't break resistance, and we stay within the channel, I think price dips and finds support at the lower channel boundary and the VPVR point of control ($1.10-1.13).