WATT Potential Over-Correction Breakout
WATT (Energous Corp.) Identifying the primary breakout levels indicates a high probability for a breakout event beginning on 21/3/8. WATT has had two prior breakout events at the 3.80 level, first on a descending trend and second on an ascending trend, with a high peaks realized following descending trend lines (Over-Correction). The current scenario is occurring on a descending trend line at the point of uptrend reversal. Other factors include the ongoing market correction that caused a steep down trend to occur last week. This increases the probability for an over-correction up to approximately 4.33 (+/-) in the up trend.
Full disclosure, I currently have no position in WATT so this projection just my unbiased opinion of a probable movement, based solely on previous performance.
Full disclosure, I currently have no position in WATT so this projection just my unbiased opinion of a probable movement, based solely on previous performance.
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