YONGTAI - is it enough?
In only 4 days, YONGTAI has climbed +156%. All indicators are oversold so we should be ready for a possible pullback.
H4 chart observed a very large cup (minus handle) pattern. If this is correct, the pullback could end around resistance zone (0.16-0.24) before making a reversal to complete the handle formation, and probably preparing for a larger breakout with TP 0.695 - but it won’t be easy with lots of resistance it needs to passed - so this is long term.
The best is to buy on dip, to avoid any bull trap along the way.
YONGTAI is a heavy stock with large float (44% float of 1040M shares), comparing to its sector competitor BCB (13% of 412M shares). This could be a potential friction for price movement during sector play.
TAYOR
H4 chart observed a very large cup (minus handle) pattern. If this is correct, the pullback could end around resistance zone (0.16-0.24) before making a reversal to complete the handle formation, and probably preparing for a larger breakout with TP 0.695 - but it won’t be easy with lots of resistance it needs to passed - so this is long term.
The best is to buy on dip, to avoid any bull trap along the way.
YONGTAI is a heavy stock with large float (44% float of 1040M shares), comparing to its sector competitor BCB (13% of 412M shares). This could be a potential friction for price movement during sector play.
TAYOR
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