This is a Daily chart of Target, currently in a very healthy uptrend.
The chart pattern i've drawn isn't exactly a cup & handle. You can argue that it's an inverted head & shoulder, although technically inverted head & shoulders pattern are usually a chart pattern to signify reversal from a downtrend. BUT I don't subscribe to the EXACT patterns, but more of the idea/ concept around chart patterns.
Whatever the case, price is currently at 20moving average and a weak down cycle (Stoch RSI hasn't reached oversold level), this signify to me that Target is about to surge up much higher.
Target profit 1 will be 200.
There's no Target profit 2 because there's no resistance/ ceiling.
Right now is a good time to buy in.
If you trade options, you can buy the At the Money strike with 2 weeks out (if you're aggressive) or 3-4 weeks out.
If you have a symbol that you'd like me to analyze, feel free to let me know in the comments!
Thanks!
The chart pattern i've drawn isn't exactly a cup & handle. You can argue that it's an inverted head & shoulder, although technically inverted head & shoulders pattern are usually a chart pattern to signify reversal from a downtrend. BUT I don't subscribe to the EXACT patterns, but more of the idea/ concept around chart patterns.
Whatever the case, price is currently at 20moving average and a weak down cycle (Stoch RSI hasn't reached oversold level), this signify to me that Target is about to surge up much higher.
Target profit 1 will be 200.
There's no Target profit 2 because there's no resistance/ ceiling.
Right now is a good time to buy in.
If you trade options, you can buy the At the Money strike with 2 weeks out (if you're aggressive) or 3-4 weeks out.
If you have a symbol that you'd like me to analyze, feel free to let me know in the comments!
Thanks!
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More like a failed setup. If it breaks below, 184, exit trade.