I like the base that is forming in OLED 165 pivot point. Notice 5 weeks of tight weekly closes - good sign of potential accumulation is happening.
Overall structure looks mid-term bullish to me and my ElliotWave analysis (EW). Although, one shall be mindful of important resistance in 171-180 area, that my cause price to correct to back to 152-141 support...
Good momentum is created by the Earnings positive surprise and the fact that OLED has increased its dividend by 16.7%.
Gross Margin of 78% and Net Margin of 34% on double-digit revenue growth speak loud of a possible higher valuation estimated by analysts.
Adjust your size accordingly. #notfinancialadvise
Possible stop below C.
Target is D. As a rule, price will reverse at D.
There is a wide Channel Down top trendline that may get in the way of this pattern reaching full targets.
If it were to break this trendline by some chance, further targets would be 129.2 and 136.25.
Hard to even predict what will happen on Monday much less if or when this could reach that...
Based on historical movement, the peak could occur anywhere in the larger red box. The final targets are in the green boxes. The pending bottom should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, the signal indicated SELL on June 3, 2022 with a closing price of...
Got my confirmation. Beautiful LDC (fractal) on the 5 min chart. The entire market is looking to head up. Japanese yen pairs are bullish.
Conclusion: Ready your space suit!
Little cup forming on the handle. The low here may be the low, for now.
No rising wedges in the yearly chart.
Mid cup 163.65.
Cup low 105.11.
Cup depth 117.09 so deep.
OLED tried to break this high before and experienced a Head and shoulders causing a throwback.
The market can be brutal.
Time will tell.
No recommendation.
Volatile stock.
The fractals speak for themselves. The market is a complex system and the fractals help mitigate the intricacies.
***This does not constitute financial advice.***
The PEAD projected a bullish outlook for $OLED after a positive over reaction following its earnings release placing the stock in drift B
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OLED broke up from it's C&H pattern a while back..the last daily candle from Friday is a indeterminate.
Long with some caution...
It is not overbought or oversold and RSI is pointing down. I have noticed RSI direction can change in a heartbeat but by definition RSI is a leading indicator precedes a price move. It was recently overbought on the RSI indicator and...
