CREAM Surges with Breakout Momentum: Eyes Set on $100!

Key Observations:

Ascending Channel Breakout:
The price has been trading within an ascending channel, with higher highs and higher lows.
A breakout from the channel is observed, with the price rising sharply from around $43 to $71.34, indicating strong bullish momentum.

Support and Resistance Levels:
Major support levels identified: $15.59 and $42.34.
Major resistance levels identified: $58.57, $70.50, and $100.45.

Volume and Price Action:
The volume appears to have increased significantly during the breakout, confirming the strength of the upward movement.

Candlestick Patterns:
The chart shows a large bullish candlestick, indicative of strong buying interest.

Indicators:
Stochastic RSI at the bottom of the chart is showing an underbought condition (below 20 level). This may indicate potential for a long-term bullish.

Technical Analysis:

Breakout Confirmation:

• The price broke out of the ascending channel with a strong bullish candle, suggesting a possible continuation of the uptrend.
  
• After breaking above $58.57 (previous resistance), the price surged to $71.34, confirming the breakout.

Potential Pullback:

• Given the overbought condition on the Stochastic Oscillator, a pullback or consolidation phase might be imminent before further upward movement.
  
• A retest of the breakout level around $58.57 or even the $42.34 support level is possible, which would be a healthy correction.

Price Targets:

Short-term target: The price could aim for $70.50 again, as it is the immediate resistance.
Mid-term target: If the bullish momentum continues, the next target would be $100.45, which aligns with the measured move from the breakout.
Long-term target: Sustained momentum could push the price beyond $100.45, but this would require continuous strong buying pressure and favorable market conditions.

I will keep updating this chart overtime