AFRM should def be on your watch list going into 2024. To keep my analysis simple, we can see a major inverted head and shoulder forming with an approach to the neckline after completing the head. We can see a high probability of a rejection at this neckline due to the RSI showing overbought on the daily/weekly. I wouldnt short the neckline due to the high momentum the overall markets have experienced, we can still run higher in this overbought scenario. 2 possible scenario ill look at.
Entry long on the bottom of the right shoulder with candlestick confirmation/volume with a target of the neckline.
Second, Entry long break of the neckline with volume (Can wait for retest for entry) and stop loss at the bottom of right shoulder.. target $70 with TP at $50 and $60.
Target could be reached in 1-3 months or sooner.
Not financial advise, pure speculation. Use proper risk management.
Trade active
I was hoping for the 3rd shoulder formation but looks like we wont be getting it. Instead we can side that this is purely a cup and handle bottom. Similar to 
COIN its hard to time the entries into a call option as this trade is still very early.The pull back to the neckline was a great entry and now we are monitoring for small trend changes within the 4 hour TF.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.