After a good rally, the stock is trading near major support. If it breaks down with a close of the weekly candle below support, then the first target will be 116, and the second will be 90 easily.
It looks strong and will turn bullish on a weekly close above 170.
For a successful breakout/breakdown, we should ideally see a strong respective timeframe candle on our chart to close —it’s crucial to use that timeframe.
Following the breakout/breakdown, the ideal entry point would be after a consecutive candle that breaks above/below the breakout/breakdown candle
As always, remember to do your own research before making any investment decisions!
It looks strong and will turn bullish on a weekly close above 170.
For a successful breakout/breakdown, we should ideally see a strong respective timeframe candle on our chart to close —it’s crucial to use that timeframe.
Following the breakout/breakdown, the ideal entry point would be after a consecutive candle that breaks above/below the breakout/breakdown candle
As always, remember to do your own research before making any investment decisions!
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