In my opinion, the Pennant pattern is not clear yet, because it has only touched the support level once, if it bounces off the violet line and tries again to break the resistance, the target price of the pennant is $ 1,500 from the flagpole.
The Pennant has,
Minimum of 1-4 weeks to break out and,
Maximum of 8-12 weeks to break out.
When it does not support the violet line, the potential reversal zone is at 78.6% of XA and the D leg is at 113% - 161.8% of BC. (violet box).
Target Price on long position is 38.2% and 61.8% of AD.
Even so you should see the clear break out.
*LAST TRACK
The Pennant has,
Minimum of 1-4 weeks to break out and,
Maximum of 8-12 weeks to break out.
When it does not support the violet line, the potential reversal zone is at 78.6% of XA and the D leg is at 113% - 161.8% of BC. (violet box).
Target Price on long position is 38.2% and 61.8% of AD.
Even so you should see the clear break out.
*LAST TRACK
Nota
"TA is just a probabilistic analysis- not certainty. Everything is possible. The analysis just points to what is likely probable. TA is not 100% correct." - George TanI will update here if my analysis was wrong or correct.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.