DOT RUNNING! - UpdateDot has broken past the local golden pocket and the final major local resistance, and is currently pressed against the top of the major golden pocket,. which tracks back from the May - July dip.
Chart Patterns:
Dot rejected the bearish head and shoulders pattern that I had previously predicted on Sept 30th.
The Head and Shoulders pattern from September could be looked at as a symmetrical triangle with a target price the length of the tail (around $44)
The technical indicators shown:
MACD - Has turned up and is bullish green, which signals to me that DOT will break farther upwards.
RSI - Shows bullish RSI divergence moving forward. Note, I have the bearish RSI Divergence marked from April - MAY which signaled the major dump. The bullish RSI divergence SHOULD be the same, but opposite, strength as what we had in May.
Fix Range Volume indicator: Shows we have broken past the volume resistance.
ITG Scalper - Shows a buy signal from about a week ago.
My strategy:
First off, I would like to note that DOT in my opinion has been manipulated HEAVILY in the last few months and should be a top 5 project.
I closed position between 38 and 36, and started looking for a buy position when DOT bounced off of the $26 mark. I entered around the $28 mark and currently holding that position.
If we bounce off of the golden pocket with force, I will close position and look to reenter around 30, or on the break upward past the golden pocket.
If we break past the top of the golden pocket, my targets are: $44, $50 (this is ATH), $62.
Currently looking for a price target at the end of the bull run $100 by December, $250 if extended.
This is not Financial Advice.
