After months of consolidation, DPRO is starting to show signs of life. The stock has reclaimed its 50WMA, broken out of a long-term bull flag, and is beginning to build momentum.
With drone and defence stocks attracting increased attention, this is one I'm watching closely for continuation.
Next, we want to see further upside, ideally followed by a retracement back to the 0.236 fib level to confirm it as support. If that level holds, the stock could be in a position to push toward a higher high. A move above the green line followed by a successful support test would help maintain the bullish structure in the short term.
With drone and defence stocks attracting increased attention, this is one I'm watching closely for continuation.
Next, we want to see further upside, ideally followed by a retracement back to the 0.236 fib level to confirm it as support. If that level holds, the stock could be in a position to push toward a higher high. A move above the green line followed by a successful support test would help maintain the bullish structure in the short term.
Trade active
Trendline has been lost, but I feel this is unfair price action and shouldn't be too much of a concern. A retest of the 0.5% fib may be needed but I can see this move back above the trendline in the near term.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.