Follow up on the bullish pennant I had on the daily on April 22nd. This time, bullish flag on the weekly chart. Confirmed.
Pros: 1- Bullish Flag, confirmed on the weekly. 2- Post formed with volume 3- Descending volume during flag formation 4- PPS above 50MA and 200MA 5- RS above 0, but a bit flat 6- R/R ratio above 5 7- 50MA above 200MA 9- 50MA ascending 10- Broke out of flag week of May 8th with volume 11- Golden cross.
Cons: 1- ATR a bit flat 2- Pattern not confirmed yet. 3- 250RSI unavaible on the weekly chart. Too new. 4- 50MA descending, for now.
Target price is 10.63$. Very similar to what I had on the daily pennant chart.