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jacobosiason7
Jan 17, 2023 2:29 PM

DAVA- Falling Wedge Breakout Long

Endava plcNYSE

Description

Eyeing DAVA here after closing last week reclaiming its respective 50-day EMA. DAVA's been holding a massive falling wedge on both the daily and weekly timeframe. This is accompanied with its Bollinger bands squeezing on the weekly timeframe and a Bullish Cypher Harmonic Pattern as it heads into earnings. Additionally, on the daily timeframe DAVA is holding the same falling wedge, an ABCD harmonic pattern has formed, a MACD Golden Cross, and is sitting right on its 50-day EMA with the 100-day and 200-day starting to curl upwards. Bullish and will be looking for a breakout from this wedge (broader market conditions & earnings permitting)- Just some FIB levels along with some RSI-based supply and demand zones to keep an eye on in the meantime.
--See Below for Weekly Timeframe & Price Targets--


PT1- $79.54
PT2- $81.03
PT3- $86.76
PT4- $90.71+

--Weekly Timeframe--

- Falling Wedge
- Bollinger Bands Squeezing
- Bullish Cypher Harmonic Pattern

Comment

✅ PT1 & PT2 Reached
Comments
jacobosiason7
✅ PT1 & PT2 Reached
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