The descending triangle (bearish signal) has played itself out confirming it's break below support and and is now forming a descending wedge (bullish signal). This pattern is confirmed with 3 reaction highs and 2 reaction lows (lower highs, lower lows). The daily chart looks primed for a breakout, the hour chart looks exhausted and may need a pull back. Will be...
Initially investors believed a cup and handle formation was forming on QYOU. Amazon news was dropped at an opportune time on the handle but seemed to fall on deaf ears and began forming a descending triangle.
QYOU keeps on giving good news in terms of brand deals with big companies, but it is not reflected in the stock price. This week could be key for the stock, if we close above 0.34 it could be the breakthrough, if we stay under, the stock will probably move under 0.30.
An update on QYOU.CA on the 1hour time frame where we see the development of higher lows on the RSI indicator and a potential cross over on the 10EMA and 50EMA. Let's see what happens over the next few weeks on this one.
Taking a look at QYOU.CA on the 1 day time frame we see a cup and handle pattern forming. Entry point is at $0.335 and take profits at $0.48 (last resistance). Look for re-entry if breakout past $0.48 and new support forms.
Cons:
Price below 10EMA
Price not quite above 50EMA
MACD Descending and challenging negative area.
