$DEGO Breakout: Retest of $13.64 --> Rally to $19.93
From its ATH in March, $DEGO corrected 84% which bottomed near end of June. Since then, $DEGO has seen a pump of nearly 220%, peaking end of August. During bloody September, $DEGO saw a correction of nearly 53%, dipping below the 200EMA on the daily time frame. Since then we've seen some sideways trading, leaning toward the up-side. $DEGO is now comfortably above the 200EMA and looks to be ready to be sling-shotted from the 20EMA.
$DEGO is also forming a huge inverse head and shoulders pattern where we're nearing the neckline. I analyze a breakout to $13.64 where we'll retest the high of the Jun-Aug pump. From there, we'll see a minor correction and then rally up to $19.93, the high of Wave_B in the first large correction where we may see some resistance and side-ways trading. It should have enough momentum to break through the previous ATH and then head into price discovery.
$DEGO is also forming a huge inverse head and shoulders pattern where we're nearing the neckline. I analyze a breakout to $13.64 where we'll retest the high of the Jun-Aug pump. From there, we'll see a minor correction and then rally up to $19.93, the high of Wave_B in the first large correction where we may see some resistance and side-ways trading. It should have enough momentum to break through the previous ATH and then head into price discovery.