- We are breaking out of out of a 40 year old cup and handle. - This is a pattern that is very familiar to me: The symmetrical wedge on the bull flag. - To me it signifies an accumulation/distribution/ascendance cycle and I have traded it to great effectiveness in PLTR and PSTG:
- I believe that we are breaking out to make new ATH's, because of the strength of the bullish trend, even through the massive shorting. - The strength of the upticks, even after the harsh rejections is shocking. - This price action has yet to factor in the scarcity of the underlying on the market, and when this is priced in, we will begin true price discovery. - It is only a matter of time... time I have to accumulate.
Check out my fundamental analysis and speculation in the comments.
I guess the Monday to Tuesday Bearish Island Top Reversal made no impression. It'll trade $23 or lower before $33 especially since headlines today project a $33 target, since traders are impressed with headlines expect the opposite.
UnknownUnicorn1043646
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@pechi123, I don't think so. I am more impressed with the industry downgrade