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Falling Wedge Pattern on $BLNK: Potential Bullish Reversal Greetings, Traders! Today, I'm thrilled to share an exciting technical analysis finding on the stock of Blink Charging Co. ( NASDAQ:BLNK ). A falling wedge pattern has been identified, suggesting the potential for a bullish reversal in the near future. Let's dive into the details! 📈 Ticker: NASDAQ:BLNK 📅 Timeframe: Daily Chart 📊 Pattern: Falling Wedge 📉 Understanding the Falling Wedge Pattern: A falling wedge is a bullish chart pattern characterized by converging trendlines that slope downward. Typically formed during a downtrend, it indicates diminishing selling pressure and the potential for a reversal. This pattern suggests the possibility of an upward price movement. 🔍 Identifying the Falling Wedge on NASDAQ:BLNK : Upon analyzing the daily chart of NASDAQ:BLNK , the following observations come to light: 1️⃣ Recent downtrend: NASDAQ:BLNK has experienced a decline in price over the past weeks. 2️⃣ Converging trendlines: The upper trendline connects the lower highs, while the lower trendline connects the lower lows. 3️⃣ Decreasing trading volume: As the falling wedge pattern forms, the trading volume has been declining, indicating a potential reduction in selling pressure. 📈 Price Targets and Trading Strategy: If the falling wedge pattern on NASDAQ:BLNK plays out as anticipated, a potential bullish breakout above the upper trendline may occur, leading to a reversal and potential price appreciation. Consider the following price targets: 1️⃣ Target 1: Resistance level near $40.00 2️⃣ Target 2: Psychological resistance near $45.00 🛡️ Risk Management: Effective risk management is crucial for successful trading. Implement the following risk management techniques: 1️⃣ Set a stop-loss order below the lower trendline to protect against unexpected price movements. 2️⃣ Adjust position size based on your risk tolerance and overall portfolio management strategy. 🔔 Conclusion: Keep a close watch on Blink Charging Co. ( NASDAQ:BLNK ) as it develops this falling wedge pattern. The pattern suggests the potential for a bullish reversal in the near future. However, please note that technical analysis is not infallible, and market conditions can change rapidly. It's advisable to incorporate additional analysis and fundamental factors before making any trading decisions. Disclaimer: This post is for informational purposes only and should not be considered as financial advice. Always conduct your own research and consult with a qualified financial professional before making any investment decisions. Happy Trading! 📈💰 #tradingview #technicalanalysis #fallingwedge #bullishreversal #blnk #stockanalysis #chartpatterns #tradingstrategies #investing #finance #marketanalysis
NASDAQ:BLNKLong
by STP_MrNodeItAll
BLNK STOCKi have a position on this stock from $29.19 and have stops below 24 just to give it some wiggle room since it has tagged the 61.8 before. i have targets at 79 but since it has never been that high before i will probably look to lock some profit in at previous highs and ride the rest to target if it happens. Set up is a traditional hwb all time low to all time high. 50% touched, broke above 38.2 and retest of 50% was our entry. Just discovered this set up last week and got a good price for the trade. Also forming a wedge down here so hopefully we can get a break out. With my position at 29.19 and stops $5 below, price target $35 higher (previous highs) it gives us a good risk to reward of about a 1:7. I like to keep things simple, with stocks i prefer larger time frames.
NASDAQ:BLNKLong
by ZEPOLKIRE_
Support at SMA50 and MACD crossing?NASDAQ:BLNK Just messing around here. I think this is about to unplug and move. We got some strong news from the reseller agreement with Ballantyne. The charts also show some good support at the SMA50. MACD moving to cross. I'm getting in for a taste. If we can get some good volume and that MACD to cross in the next few days, I think we'll test ATH at $65 and may even get into the $70s. Target #1 - $65 Target #2 - $72 Target #3 - to infinity and beyond! Let's see how this plays out. I may get some 2/19 calls if it dips a bit tomorrow. LFG!
NASDAQ:BLNKLong
by wujo
$BLNK Triangle or rising wedge?BLNK found itself rejected at the anchored VWAP from the January highs and it put in a daily inside day last week. Indicators looks a little exhausted after running strongly from the lows a few days ago, due to some bad news. Whether it's a triangle or a rising wedge, I carry no bias until price action tells me if these EMAs will hold the daily levels or if we're getting a pullback before we're ready to break higher again. I am looking to add if we enter my buy zone. The maginot line it's a clear trend break to the downside that should be worth looking at if this proves to be a rising wedge.
NASDAQ:BLNK
by Modus777
BLNK A Little Too ExpensiveThere's no doubt BLNK has had a meteoric rise over the past few months. Gains YTD are up over 2,500%. This is a company that I think has a bright future (no pun intended), but not at this valuation. Current price is trading at multiples of 344x of sales, 95x of book value and 104x cash. Most recent 10Q shows me that: GP is up approx 122% from 3Q of last year while Operating Expense is up 38%. OPEX increase was largely in part of increased compensation and G&A expenses. Operating Expense now represents 292% of Revenue compared to the 364% reported same quarter last year. So the company is growing. Here's the downside. Share price is now based on a valuation decades into the future. Chart shows that we've got RSI divergence along the highs so expect a pull back. I'm interested buying but at the right price.
NASDAQ:BLNK
by NetWorthFocused
17