Bottom of Parallel Uptrend after Falling Wedge Breakout
Let's see if this idea works out:
FARM has reached the bottom of a parallel channel uptrend after breaking out of a falling wedge. The measured 1.5x target for a breakout at the top of this channel lines up exactly with the 1x measured target for its falling wedge breakout, or around 64 dollars.
Idea invalidated if we lose channel bottom.
FARM has reached the bottom of a parallel channel uptrend after breaking out of a falling wedge. The measured 1.5x target for a breakout at the top of this channel lines up exactly with the 1x measured target for its falling wedge breakout, or around 64 dollars.
Idea invalidated if we lose channel bottom.
Comment:
Update, bounced off channel bottom and headed towards channel top, presently near middle of channel. The 50/200 day MA golden crossed on the way down (shown in the pic below). 50/200 dau EMA (shown on the chart pic above) has yet to cross:
