W Formation since Sep 2022. It's been moving in a sideways range without any promising direction. Then in February we had a breakaway gap. This is where the price jumped from the sideways range into an uptrend. And most sellers and stop losses were hit. This showed strong upside to come. 7>21>200 RSI>50 Target R21.39 WARNING Gaps like to close 70% of the time. And I don't generally like taking any trades where there are prior gaps. I'd take this trade as a medium probability one.
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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