This is a very nice looking chart to me.
Akash recently broke above a price high from 2 years ago and pulled back nicely to the 21 period MA.
The rounded shape of price action over the last couple years looks very nice & is likely to continue quite a bit higher in the coming months.
The long top side wick on the current candle (Apr 23, 2024) is a bit of a concern, but there are 4 days left before close. If this candle closes bearish, I don't see it of much of a concern as I see price action chopping here for another couple or more weeks.
What makes this a very attractive trade to me is the stochastic rsi. When that cross up confirms above the 20 line I expect to see a strong move up for several weeks or months. It will be the first such cross in over 6 months.
In addition to the beautiful chart AKT has a very fundamental, practical suite of services. In addition they will get interest in the GPU & AI narratives.
But the chart speaks for itself. That cross up is when to get in for a longer term hold. The 1.618 Fib continuation level is at about $62. I'd say that is very much in play and in peak alt season, that number could be blown away.
Akash recently broke above a price high from 2 years ago and pulled back nicely to the 21 period MA.
The rounded shape of price action over the last couple years looks very nice & is likely to continue quite a bit higher in the coming months.
The long top side wick on the current candle (Apr 23, 2024) is a bit of a concern, but there are 4 days left before close. If this candle closes bearish, I don't see it of much of a concern as I see price action chopping here for another couple or more weeks.
What makes this a very attractive trade to me is the stochastic rsi. When that cross up confirms above the 20 line I expect to see a strong move up for several weeks or months. It will be the first such cross in over 6 months.
In addition to the beautiful chart AKT has a very fundamental, practical suite of services. In addition they will get interest in the GPU & AI narratives.
But the chart speaks for itself. That cross up is when to get in for a longer term hold. The 1.618 Fib continuation level is at about $62. I'd say that is very much in play and in peak alt season, that number could be blown away.