Ascending Triangle, confirmed.
Pros:
Descending volume during formation
Volume at break out
PPS above 50MA and 200MA
RS above 0, and ascending
ATR Ascending
R/R ratio above 8
200MA ascending
250RSI above 50
Cons:
No volume increase at break out
PT = 37.25$
A lot going on here; bullish and bearish price action fighting each other. Appears that the bearish order block will be pushed up on and taken out followed by a flip to support.
Would enter a trade on retracement of support.
I retrospect I started selling way too early. Time to look at short opportunities here as the stock has blasted way past fair value and has very quickly entered bubble territory
Looks like a strong resistance at ~$4.24
The .236 fib lines up with it, resistance line (yellow dashed) able to be set there as multiple retests have been seen, 50 MA also serving as a resistance
~$4.07 looks like a solid support too
~$4.34 at the .382 fib looks like a good target
Let's watch and see if it's able to break out
I am new so feedback is...
- Bull flag
- See it trying to break out
- Almost breaking out
- Ascending triangle forming
- Can it reach the previous high as a target tomorrow?
Feedback is welcome, especially if I'm wrong
Thanks
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