Double Bottom Pattern: The stock has formed a classic double bottom pattern, which is often viewed as a bullish reversal signal. This pattern has two distinct lows (labelled as "Bottom 1" and "Bottom 2") at roughly the same price level, suggesting that the stock found strong support and buyers stepped in at those levels. 200-day Moving Average: The stock price...
Declining Channel: The share has been trading within a well-defined declining channel, as highlighted by the two parallel red lines on the chart. This pattern typically suggests a consistent downward trend. Moving Averages: Two moving averages are depicted on the chart - the "200-day" and "200-week." The share is currently trading below both these moving averages,...
Resistance Zones: The chart highlights two prior peaks with blue circles, indicating areas of significant resistance where the price has previously turned downward. The price may attempt to re-test these resistance levels. Target & Stop Levels: The chart indicates a potential target level at 1.3850, which would represent a +1.4% increase from the current level....
1. V-Shape Correction: A standout feature in the recent price movement is the V-shape correction. This formation often indicates a sharp reversal in trend. After a swift drop, the price has recovered with equivalent vigour, suggesting a possible change in sentiment among traders and investors. 2. 200-Day Moving Average: The stock has had significant interactions...
1. Declining Channel Pattern: The most prominent feature on the chart is the declining channel pattern. Historically, when prices touch the lower trendline, we often witness a bounce. 2. Linear Regression Channel There is also evidence of a linear regression channel pattern, with the price recently testing its lower range. This provides a potential area of...
1. Trend Level - 26800: The chart showcases a significant trend level at the 26800 mark. This price point seems to be pivotal. 2. Moving Averages: Two noteworthy moving averages have been marked – the 200-day and the 200-week. The recent price action shows Bitcoin testing these moving averages, indicating they are acting as dynamic resistance levels. 3....
The share depicts an intriguing trading pattern. The defining level that stands out prominently is the 6700 mark. This price level seems to be a critical pivot point, distinguishing the trend direction for the share. 1. The 6700 Pivot Point: The price level of 6700 acts as a significant trend delineator. When the share price is above this mark, it indicates a...
A price action above 16000 supports a bullish trend direction. Crossing above 16800 will further confirm the bullish bias. The target price is set at 17900. The stop-loss price is set at 15000. Testing major resistance. A break above this level might change the trend to a stronger bullish one. Remains a risky trade.
A price action 222.00 supports a bullish trend direction. The bullish trend might increase in strength above 225.00. The first target price is set at 229.00 The second target price is set at 239.00. The stop-loss price is set at 218.00. Testing its 200-day simple moving average. Crossing above its 200-day might set the long-term trend as bullish. Remains a risky trade.
A price action above 44.00 supports a bullish trend direction. The bullish trend might increase in strength above 45.00. The first target price is set at 46.00. The second target price is set at 49.00. The gap in the price action might be filled. Remains a risky trade.
A price action above 590 supports a bullish trend direction. The bullish trend might get stronger for a break above 620. The target price is set at 600 (its 61.8% Fibonacci retracement level). The stop-loss price is set at 550.
A price action below 330 supports a bearish trend direction. Crossing below 310 might strengthen the bearish trend direction. The target price is set at 280. The stop-loss price is set at 350. Crossed below its 200-day and 200-week simple moving averages. Remains a very risky trade.
A price action above 800 supports a bullish trend direction. Increase the long exposure for a break above 840. The target price is set at 960 or the 78.6% Fibonacci retracement level. The stop-loss price is set at the start of the Fibonacci retracement level. The start of upside price momentum might support the price action. Remains a risky idea.
A price action above 148.00 supports a bullish trend direction. Increase long exposure for a break above 157.00. The target price is set at 168.00. the stop-loss price is set at 148.00 (the 23.6% Fibonacci retracement level). Remains a risky trade.
A price action below 93.00 supports a bearish trend direction. Increase short exposure for a break below 91.00. The target price is set at 88.00. The stop-loss price is set at 96.00. Remain in a declining channel pattern, whereby lower highs and lower lows are applicbale.
A price action above 3370 supports a bullish trend direction. Increase long exposure for a break above 3770. The target price is set at 3990 (the 78.6% Fibonacci retracement level). the stop-loss price is set at 3400. The trade idea is classified as a counter-trend strategy. Some bullish divergence notable.
A price action above 18200 supports a bullish trend direction. Further bullish confirmation for a break above 18900. The target price is set at 19700. The stop-loss price is set at 17700. Remains above its 23.6% Fibonacci retracement level. Remains a risky trade.
Might the 200-week simple moving average act as major support? A price action above 25500 supports a bullish trend direction. Further bullish confirmation for a break above 26500. The target price is set at 27800 (its 78.6% Fibonacci retracement level). The stop-loss is set at 24300 (its 23.6% Fibonacci retracement level). Fading downside momentum supports the trade idea.