BEST - MACD bullish divergence and channel breakout!
Hi Guys,
BEST broke an almost 2-years down trend channel (started on January 21st 2020) on September 2021, with huge weekly volumes. The price target for this technical pattern is 3$, which is also the 0.382 Fibo level of the downtrend leg which started also in Jan 2020.
In addition to this, MACD on the weekly chart is showing a huge bullish divergence which makes pretty realistic an inversion in the upcoming weeks.
Please also note that the price action is now consolidating in a symmetric triangle and forming a right shoulder.
Not a financial advice, just personal opinion. Do your own due diligence and good luck!
BEST broke an almost 2-years down trend channel (started on January 21st 2020) on September 2021, with huge weekly volumes. The price target for this technical pattern is 3$, which is also the 0.382 Fibo level of the downtrend leg which started also in Jan 2020.
In addition to this, MACD on the weekly chart is showing a huge bullish divergence which makes pretty realistic an inversion in the upcoming weeks.
Please also note that the price action is now consolidating in a symmetric triangle and forming a right shoulder.
Not a financial advice, just personal opinion. Do your own due diligence and good luck!