9202 - Bullish Reversal
Company: ANA Holdings Inc.
Ticker: 9202
Exchange: TSE
Sector: Air Transport
Introduction:
Hello and welcome to today's technical analysis. We're turning our attention to the weekly chart of ANA Holdings Inc. (9202) on the TSE, which is demonstrating an exciting Rectangle pattern breakout that could signal a bullish reversal.
Rectangle Pattern:
The Rectangle pattern is a common chart pattern that can act as a continuation or a reversal signal, depending on the preceding trend and the breakout's direction. In this case, the Rectangle pattern is acting as a bullish reversal signal.
Analysis:
Over the past 1155 days, ANA Holdings' price movements have formed a distinct Rectangle pattern. The clear touch points and boundaries define the pattern, with the lower boundary at 2117.5 and the upper boundary at 2989.
The price has successfully moved above the 200 EMA, and for the first time in 1155 days, we've seen a clear breakout above the upper boundary of the Rectangle. This is a strong bullish signal, suggesting a potential trend reversal.
Conclusion:
The price target following this breakout is set at 3853, representing a potential rise of 29%. As always, it's crucial to employ risk management strategies and appropriate position sizing when trading based on chart patterns.
Please remember that this analysis should not be taken as financial advice. Always perform your own due diligence before trading or investing.
If you found this analysis helpful, please consider liking, sharing, and following for more. Happy trading!
Best regards,
Karim Subhieh
Ticker: 9202
Exchange: TSE
Sector: Air Transport
Introduction:
Hello and welcome to today's technical analysis. We're turning our attention to the weekly chart of ANA Holdings Inc. (9202) on the TSE, which is demonstrating an exciting Rectangle pattern breakout that could signal a bullish reversal.
Rectangle Pattern:
The Rectangle pattern is a common chart pattern that can act as a continuation or a reversal signal, depending on the preceding trend and the breakout's direction. In this case, the Rectangle pattern is acting as a bullish reversal signal.
Analysis:
Over the past 1155 days, ANA Holdings' price movements have formed a distinct Rectangle pattern. The clear touch points and boundaries define the pattern, with the lower boundary at 2117.5 and the upper boundary at 2989.
The price has successfully moved above the 200 EMA, and for the first time in 1155 days, we've seen a clear breakout above the upper boundary of the Rectangle. This is a strong bullish signal, suggesting a potential trend reversal.
Conclusion:
The price target following this breakout is set at 3853, representing a potential rise of 29%. As always, it's crucial to employ risk management strategies and appropriate position sizing when trading based on chart patterns.
Please remember that this analysis should not be taken as financial advice. Always perform your own due diligence before trading or investing.
If you found this analysis helpful, please consider liking, sharing, and following for more. Happy trading!
Best regards,
Karim Subhieh
KSC
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