SHAK looks great for a breakout and continuation of momentum to the upside on the 1H and 1D
SHAK is creating a nice downtrend pattern and would present a great entry on the break of the trendline.
Why would this be a good buy opportunity?
On the daily price has pulled back to the 10 and 20 EMA and showing that it is bouncing off of them.
The 200 SMA is moving nicely toward price on the 1H and hopefully that gives price a push to the upside.
On the daily price has also not tried to test the 200 SMA in several months and recently has pushed towards it again, which makes me think it will definitely come back to test it again.
Overall I think this would be a great breakout setup for this coming week!
SHAK is creating a nice downtrend pattern and would present a great entry on the break of the trendline.
Why would this be a good buy opportunity?
On the daily price has pulled back to the 10 and 20 EMA and showing that it is bouncing off of them.
The 200 SMA is moving nicely toward price on the 1H and hopefully that gives price a push to the upside.
On the daily price has also not tried to test the 200 SMA in several months and recently has pushed towards it again, which makes me think it will definitely come back to test it again.
Overall I think this would be a great breakout setup for this coming week!
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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.
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.