CAKE is crawling sideways in between a bull channel and above the Weekly Resistance. The price hasn't been able to break above the 30EMA nor has it broken below the Weekly Support.
How do we trade this?
The overarching trend is bullish, so we should set our bias to long. The price is establishing support at the previous Weekly Resistance, so it's reasonable to...
CAKE is in a descending wedge pattern and currently flirting with breaking out. After last week's bull bar closing near its high, we had a slight pullback to the 30EMA and bounced back to the top of the wedge. We have yet to breakout let alone confirm a breakout. Until then, this is what we have for data:
Key Points
1. The Descending Wedge Pattern is...
BREAKING OUT AS WE PREDICTED FEW DAYS AGO
expecting some big moves incase of successful breakout
we only needs to wait for daily clode if daily candle closed above resistance then buy and hold some
Cake, after a month rising, ended up forming into a flag. He had his premature breakout on the 7th, showing a Bull Trap, a long trap. Demonstrating that bulls were not so hot. The funny thing is that I just realized that we still have a Trench (rectangle or accumulation) call it what you like. The important thing about this is that we have two important factors to...
