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wes999
Nov 24, 2020 5:50 AM

BLNK Technical Analysis 11-24-20 Long

Blink Charging Co.NASDAQ

Description

Price has certainly shot up out of consolidation and hit a previous key resistance level. If it blows past the 2.618 fib level ($35.53) on the daily chart it has another resistance level at the 38.2 fib level on the monthly chart (around $40). The next level of resistance is the trend line around the $46 price level. I would wait for a pullback to a key support level and then enter. However, this is a very strong uptrend signal and price may not pullback. If you are bullish on the stock then place a buy above the 2.618 fib level and let the market come to you. Target price would be the trendline at around $46.
Comments
kbobatoon
Good morning young scholar. Been peeping your latest ideas. I would just be a bit concerned about buying at the top of an impulsive move directly from years of accumulation. If its fast it won't last. If its slow it will grow. I'd be bias towards a long after it fills at least half of the imbalance it left. Otherwise, I love your hard work and consistency, my dude.
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