Based on the trend channel above, looks set to reach 43-44, then will come back down to mid or high 30's, and then back up into the channel.
Ignore the big bump above the channel in late 2017, at that was anomaly and we gotta weed out the anomalies to identify the long term trend.
A definite buy at this point, but keep a small trailing stop loss, as it might reverse around 43-44.
Ignore the big bump above the channel in late 2017, at that was anomaly and we gotta weed out the anomalies to identify the long term trend.
A definite buy at this point, but keep a small trailing stop loss, as it might reverse around 43-44.
Comment:
Based on the moving averages too, it looks like it might see its peak soon, just around 42-43 rather than touching 44. It would put a limit sell around 42.5, cuz then it could go back to 38, and will slowly gain momentum over an year to climb to high 40s and then back to 40-41, then slowly up again. Doesn’t look like it can reach 50 in an year I think. It could take more than 1.5 yrs to reach 50 based on this trend.
