I typically never look at stocks that have a huge run up and seem over extended on the 1 day chart.
But, the 4 hour chart clearly shows a reversal from being oversold with momentum and all key indicators pointing towards a move up.
Due to the big wick on Friday, the fib channel has opened a pathway to $260.
Unusual options activity at $260 strike price as well for august.... seems a bit premature but the range is evident and the last 3 candles on the 4 hour chart show it wants to move.
This is interesting for me as it goes for, and against, what I look for in a price target.
Then I realize, I'm against it based on feeling/judgement. The indicators point towards $260, or at least $250-$260 range.
Not trade advice.
But, the 4 hour chart clearly shows a reversal from being oversold with momentum and all key indicators pointing towards a move up.
Due to the big wick on Friday, the fib channel has opened a pathway to $260.
Unusual options activity at $260 strike price as well for august.... seems a bit premature but the range is evident and the last 3 candles on the 4 hour chart show it wants to move.
This is interesting for me as it goes for, and against, what I look for in a price target.
Then I realize, I'm against it based on feeling/judgement. The indicators point towards $260, or at least $250-$260 range.
Not trade advice.
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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.
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.