IMO: Ascending Triangle, not confirmed (59,64%)(24/1000)
(24/1000)
Ascending Triangle for IMO (chart on left)
Not confirmed.
Possible 59,64% gains.
This is solidified by the fact the SPN (energy sector, chart on right) is also building into an ascending triangle (not confirmed) with a possible 41,62% gain.
Now for the analysis of IMO:
Pros:
1- Bullish Ascending triangle
3- PPS above 50MA and 200MA
3- R/R ratio above 5
4- 250RSI above 50 and ascending
5- 50MA above 200MA
6- 50MA and 200MA ascending, though 200MA is not ascending by a lot
7- RS above 0 and ascending
8- Golden cross in blue
Cons:
1- Pattern Not confirmed yet. Waiting for the PPS to cross the resistance
2- Limited descending volume during formation
3- ATR descending, less volatile
IMO Target price is 92,67$.
Stay humble, have fun, make money!
MAAX!
Ascending Triangle for IMO (chart on left)
Not confirmed.
Possible 59,64% gains.
This is solidified by the fact the SPN (energy sector, chart on right) is also building into an ascending triangle (not confirmed) with a possible 41,62% gain.
Now for the analysis of IMO:
Pros:
1- Bullish Ascending triangle
3- PPS above 50MA and 200MA
3- R/R ratio above 5
4- 250RSI above 50 and ascending
5- 50MA above 200MA
6- 50MA and 200MA ascending, though 200MA is not ascending by a lot
7- RS above 0 and ascending
8- Golden cross in blue
Cons:
1- Pattern Not confirmed yet. Waiting for the PPS to cross the resistance
2- Limited descending volume during formation
3- ATR descending, less volatile
IMO Target price is 92,67$.
Stay humble, have fun, make money!
MAAX!
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.
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.