FILATEX popped up on 52-week breakout screener results
A few highlights
Increasing volume in the last few weeks
Trading at a crucial level of around 55
Next resistance at 58
All-time high 71.40
RSI above 60 on a monthly, weekly and daily time frame
Since the next resistance is very close, it's hard to achieve an excellent risk-to-reward ratio when considered for a swing or short-term trade. But it is suitable for the long term if the trend continues.
It looks like the 5th wave, as the 4th wave, retraced exactly .65% on a Fibonacci retracement.
If the trend continues, we may see 76 levels as the 1st target and 80 as the 2nd. The depth of the cup is the 1st target from the neckline.
A few highlights
Increasing volume in the last few weeks
Trading at a crucial level of around 55
Next resistance at 58
All-time high 71.40
RSI above 60 on a monthly, weekly and daily time frame
Since the next resistance is very close, it's hard to achieve an excellent risk-to-reward ratio when considered for a swing or short-term trade. But it is suitable for the long term if the trend continues.
It looks like the 5th wave, as the 4th wave, retraced exactly .65% on a Fibonacci retracement.
If the trend continues, we may see 76 levels as the 1st target and 80 as the 2nd. The depth of the cup is the 1st target from the neckline.