After a strong run-up, this stock found a solid consolidation range between $1.50 - $2.20, building a healthy base. We've broken resistance three times, creating new levels, but support has been steadily climbing since December – a great sign of underlying strength. I predict we will come back to the latest resistance, creating a new support, for the stock to ride to $3.50
Current Setup:
Bull Flag Formation: Recently broke out of the flag pattern.
Support Flip: Price is retesting previous resistance as new support – a textbook setup for the next leg up.
Volume Pickup: Notice the volume spikes on breakouts, as well as increased continued action these past weeks, confirming interest.
Target: Potential move up to the $3.50+ range if momentum continues.
Risk Management: Watch for a confirmed support hold before entering.
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All love and best of luck, traders
Current Setup:
Bull Flag Formation: Recently broke out of the flag pattern.
Support Flip: Price is retesting previous resistance as new support – a textbook setup for the next leg up.
Volume Pickup: Notice the volume spikes on breakouts, as well as increased continued action these past weeks, confirming interest.
Target: Potential move up to the $3.50+ range if momentum continues.
Risk Management: Watch for a confirmed support hold before entering.
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All love and best of luck, traders
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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.