Short & Medium-Term Outlook
Trend Analysis:
• Short-Term (Current Price Action):
• The stock has recently found support around the $600-$610 range and is attempting a bounce.
• The green arrow and projection indicate a potential upward move of circa 5% to $638, which aligns with the next resistance level based on recent price action.
• The moving averages (short-term and medium-term EMAs) show a downward trend, but the current price is attempting to reclaim the shorter EMA.
• Momentum indicators suggest a potential short-term reversal.
Trade Setup:
Short-Term Targets:
• Upside Target: $638 (potential 5.07% move)
• Downside Risk: $600 support zone
• Trade Probability: Moderate, with an entry bias confirmed by improving momentum indicators.
Medium-Term Targets:
• Upside Resistance: $660-$675 if bullish momentum continues beyond $638.
• Downside Support: $580 (next major support if current bounce fails).
Lets keep an eye on this
• Short-Term (Next 15-21 Days):
• Expect a potential bounce towards $638 if bullish momentum holds, with a cautious outlook due to moderate trend strength.
• A break below $600 invalidates the bullish scenario.
• Medium-Term (2-3 Months):
• A sustained move above $638 could push the stock towards $660-$675.
• Failure to hold current levels may see a retest of lower support near $580.
Trend Analysis:
• Short-Term (Current Price Action):
• The stock has recently found support around the $600-$610 range and is attempting a bounce.
• The green arrow and projection indicate a potential upward move of circa 5% to $638, which aligns with the next resistance level based on recent price action.
• The moving averages (short-term and medium-term EMAs) show a downward trend, but the current price is attempting to reclaim the shorter EMA.
• Momentum indicators suggest a potential short-term reversal.
Trade Setup:
Short-Term Targets:
• Upside Target: $638 (potential 5.07% move)
• Downside Risk: $600 support zone
• Trade Probability: Moderate, with an entry bias confirmed by improving momentum indicators.
Medium-Term Targets:
• Upside Resistance: $660-$675 if bullish momentum continues beyond $638.
• Downside Support: $580 (next major support if current bounce fails).
Lets keep an eye on this
• Short-Term (Next 15-21 Days):
• Expect a potential bounce towards $638 if bullish momentum holds, with a cautious outlook due to moderate trend strength.
• A break below $600 invalidates the bullish scenario.
• Medium-Term (2-3 Months):
• A sustained move above $638 could push the stock towards $660-$675.
• Failure to hold current levels may see a retest of lower support near $580.
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.