Introduction:
This technical analysis focuses on the 4-hour (4H) chart of Bumble Inc. NASDAQ:BMBL and identifies a prominent hidden bullish divergence confirmation. The analysis aims to provide insights for short-term traders seeking potential long positions. Notably, a strong resistance level at 19.95 adds significance to the analysis, as a successful breach...
Chart is self explanatory. FX:GBPUSD Long opportunity is confirmed by the divergence. Fibonacci retracement and extension is used to calcuate profit level.
NASDAQ:TSLA shows Double Tops which means a possible down trend with a confirmation of Exaggerated Divergence. And, Soros Fund Management cut Tesla stake today, therefore all things considered it's clear that this is going to be a down trend.
Chart is self explanatory. A clear hidden divergence is found here, which indicates underlying weakness. And the long term support level has broken, which is a strong indication that this down trend will continue even more.
EURONEXT:UBI Shows a clear hidden divergence, which signals that trend will continue. Long term support is still going strong while long term resistance trend line is broken. Possible long entry.
NASDAQ:MDB is currently overbought and chart and indicator shows divergence. Also chart has retraced down below Fib 0.618 level and it has breached the support level (which previously acted as resistance). It's possible that chart will go down further below until marked support level.
Divergence says trend should reverse at least for a short time, but trend is also accompanied by a strong support levels. It's too risky at this time for both short or long entries. Wait until it drops to the mentioned Fibonacci levels and decide whether it will reverse or continue.
The lines 'AB' and 'CD' are known as the legs while 'BC' is called the correction or retracement.
As you can see , If you use the Fibonacci retracement tool on leg 'AB', the retracement 'BC' reaches until the Fib 0.618 level. Next, the line 'CD' is at the 1.272 Fibonacci extension of 'BC'.
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