The initial catch of eye was the head and shoulders pattern on the weekly chart.
After looking at the daily we see a similar patter to a double bottom ( not a proper double bottom given position of trend, but can also be perceived as a cup and handle. Moving averages and momentum produce a buy signal and so do the candle sticks in relation to volume.
The relevance is the break of resistance on the weekly and daily chart cup and handle followed by and increase in volume to confirm its validity. The $28 target is easily done as future price action will probable exceed the $30 mark given time.
This is my thoughts and analysis.
Cheers,
Steve
After looking at the daily we see a similar patter to a double bottom ( not a proper double bottom given position of trend, but can also be perceived as a cup and handle. Moving averages and momentum produce a buy signal and so do the candle sticks in relation to volume.
The relevance is the break of resistance on the weekly and daily chart cup and handle followed by and increase in volume to confirm its validity. The $28 target is easily done as future price action will probable exceed the $30 mark given time.
This is my thoughts and analysis.
Cheers,
Steve