We can create this bullish channel to have a better view for the market and also to spot the perfect entry point respecting the pitchfork sides,
Recently we saw a good VWAP breakout but the market just go test the validity of the red trend line, so we need to see a clear pullback to buy shares.
Raydan Food Company
Progressing excellently, but the stock is currently in the process of correcting
The price may reach areas between 16 to 20 before resuming the upward trend for long and excellent targets.
We have a strong indications that the market will go down :
1.The 3 recent candles are all in gravestone profile, the market can't break the VWAP indicator, the VWAP act as a strong resistance,
2.The Fibonacci give us the level of 75% as a strong resistance too,
3.The respect of the red trend line and the market need to go back to the channel,
We have a strong probability that the market will go up for the long term view or in another word at the end of this year, it's call for all wise investors to enter in a long position and wait until the end of this year