ATVI, single busted HS Top
As much as i agree with the notion that it is POINTLESS to project/forecast the future price because we simply do not know the exact futures or where the price will be.
However, when the condition arises such as this one, i tend to do the projection using measure rule and channel, be it right or wrong by next earning released on the 6th of May. This is also to increase my TA skill.
Reason for long:
1. Potential Bull flag in rising narrow blue channel
2. MACD found support at the current trendline
3. 8ema golden crossed 20ema (could still be a whipsaw)
4. When the HS TOP did not make the bearishness happen, the previous Head (top) would be taken out
Long 23.35
Stop 22.75
Target 27-28
P.S. might only be able to update on 10 May
However, when the condition arises such as this one, i tend to do the projection using measure rule and channel, be it right or wrong by next earning released on the 6th of May. This is also to increase my TA skill.
Reason for long:
1. Potential Bull flag in rising narrow blue channel
2. MACD found support at the current trendline
3. 8ema golden crossed 20ema (could still be a whipsaw)
4. When the HS TOP did not make the bearishness happen, the previous Head (top) would be taken out
Long 23.35
Stop 22.75
Target 27-28
P.S. might only be able to update on 10 May
Note
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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.