CRSP Possible reversal area with price targets
While it has been in a strong downtrend over the past few weeks, CRSP is showing signs of a possible bullish trend reversal.
The 4h MACD is showing triple class A bullish divergence, with a daily bullish hammer candle on top of a critical support area which also lies at the bullish .886 Fibonacci retrace area.
If price-action shows a reversal upwards, the price targets would lie at the .618 Fibonacci retrace (aligning with the shoulders of an old head&shoulders pattern), the .718 Fibonacci retrace (A potential bearish value area), and the all-time high at the 100% Fibonacci retrace level.
The stop loss lies just below the critical support area, however, one should be aware of false breakouts below this level.
The 4h MACD is showing triple class A bullish divergence, with a daily bullish hammer candle on top of a critical support area which also lies at the bullish .886 Fibonacci retrace area.
If price-action shows a reversal upwards, the price targets would lie at the .618 Fibonacci retrace (aligning with the shoulders of an old head&shoulders pattern), the .718 Fibonacci retrace (A potential bearish value area), and the all-time high at the 100% Fibonacci retrace level.
The stop loss lies just below the critical support area, however, one should be aware of false breakouts below this level.
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