AKTLong
Akash Weekly Stochastic RSI - First time in 6 months
This is a very nice looking chart to me.
Akash recently broke above a price high from 2 years ago and pulled back nicely to the 21 period MA.
The rounded shape of price action over the last couple years looks very nice & is likely to continue quite a bit higher in the coming months.
The long top side wick on the current candle (Apr 23, 2024) is a bit of a concern, but there are 4 days left before close. If this candle closes bearish, I don't see it of much of a concern as I see price action chopping here for another couple or more weeks.
What makes this a very attractive trade to me is the stochastic rsi. When that cross up confirms above the 20 line I expect to see a strong move up for several weeks or months. It will be the first such cross in over 6 months.
In addition to the beautiful chart AKT has a very fundamental, practical suite of services. In addition they will get interest in the GPU & AI narratives.
But the chart speaks for itself. That cross up is when to get in for a longer term hold. The 1.618 Fib continuation level is at about $62. I'd say that is very much in play and in peak alt season, that number could be blown away.
Akash recently broke above a price high from 2 years ago and pulled back nicely to the 21 period MA.
The rounded shape of price action over the last couple years looks very nice & is likely to continue quite a bit higher in the coming months.
The long top side wick on the current candle (Apr 23, 2024) is a bit of a concern, but there are 4 days left before close. If this candle closes bearish, I don't see it of much of a concern as I see price action chopping here for another couple or more weeks.
What makes this a very attractive trade to me is the stochastic rsi. When that cross up confirms above the 20 line I expect to see a strong move up for several weeks or months. It will be the first such cross in over 6 months.
In addition to the beautiful chart AKT has a very fundamental, practical suite of services. In addition they will get interest in the GPU & AI narratives.
But the chart speaks for itself. That cross up is when to get in for a longer term hold. The 1.618 Fib continuation level is at about $62. I'd say that is very much in play and in peak alt season, that number could be blown away.
Disclaimer
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.