CZR WCA - Rectangle Pattern
Company: Caesars Entertainment Inc.
Ticker: CZR
Exchange: NASDAQ
Sector: Consumer Cyclical
Introduction:
In this analysis, we're looking at Caesars Entertainment Inc. (CZR) on the NASDAQ. The weekly chart is showing signs of a potential bullish reversal following a prior downward trend.
Previous Trend and Reversal Pattern:
The previous trend for CZR was downward, as indicated by the diagonal blue dashed resistance line. This downtrend appears to have been interrupted by a consolidation phase that initially took the shape of an inverted head and shoulders pattern. However, this pattern did not result in a successful breakout and subsequently morphed into a Rectangle pattern.
Rectangle Pattern and EMA:
The Rectangle pattern, in this case, is acting as a reversal pattern and has been forming over the past 250 days. The upper boundary of the rectangle is at 55.16 and has been touched thrice, while the lower boundary is at 40.22 with two touchpoints.
The 200-day exponential moving average (EMA) is near the upper horizontal boundary resistance, which underscores the significance of this price level.
Analysis and Conclusion:
Currently, it seems that the ongoing weekly candle might close above both the 200 EMA and the horizontal resistance at 55.16. If this holds true until the close of the candle, a long entry might be appealing. The resulting price target in such a scenario would be 70.11, which equates to a rise of 27.07%.
Please note that this analysis should be part of your overall market research and risk management strategy and is not direct trading advice.
If you found this analysis helpful, consider liking, sharing, and following for more insights. Best of luck with your trading!
Best regards,
Karim subhieh
Disclaimer: This analysis is not financial advice and is meant for educational purposes only. Always conduct your own research and consult with a financial advisor before making investment decisions.
Ticker: CZR
Exchange: NASDAQ
Sector: Consumer Cyclical
Introduction:
In this analysis, we're looking at Caesars Entertainment Inc. (CZR) on the NASDAQ. The weekly chart is showing signs of a potential bullish reversal following a prior downward trend.
Previous Trend and Reversal Pattern:
The previous trend for CZR was downward, as indicated by the diagonal blue dashed resistance line. This downtrend appears to have been interrupted by a consolidation phase that initially took the shape of an inverted head and shoulders pattern. However, this pattern did not result in a successful breakout and subsequently morphed into a Rectangle pattern.
Rectangle Pattern and EMA:
The Rectangle pattern, in this case, is acting as a reversal pattern and has been forming over the past 250 days. The upper boundary of the rectangle is at 55.16 and has been touched thrice, while the lower boundary is at 40.22 with two touchpoints.
The 200-day exponential moving average (EMA) is near the upper horizontal boundary resistance, which underscores the significance of this price level.
Analysis and Conclusion:
Currently, it seems that the ongoing weekly candle might close above both the 200 EMA and the horizontal resistance at 55.16. If this holds true until the close of the candle, a long entry might be appealing. The resulting price target in such a scenario would be 70.11, which equates to a rise of 27.07%.
Please note that this analysis should be part of your overall market research and risk management strategy and is not direct trading advice.
If you found this analysis helpful, consider liking, sharing, and following for more insights. Best of luck with your trading!
Best regards,
Karim subhieh
Disclaimer: This analysis is not financial advice and is meant for educational purposes only. Always conduct your own research and consult with a financial advisor before making investment decisions.
KSC
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