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Double Top or Bottom

TOYS R BACK - Bullish Beginning & BottomReasons to be bullish on ToysRUs / TSX:TOY : Recently completing a double W bottom, TSX:TOY is looking like it is about to escape the jaws of bankruptcy and begin a dramatic resurgence in price. The long diagonal white line if broken will be the first time that has happened in over a decade and should it do so, it is likely to kickstart a period of intense buying, from shorts covering their positions. If you wish to play it safer, wait until the inverse head & shoulders plays out, above the yellow slanted line. The company recently announced a loss $19m AUD in it's Annual Report , which was lower than expected following the transformation of the 'House of Brands' strategy they are now pursuing. Thanks to the increased margins of their newly acquired brands, the dramatic cost-cutting efforts that are underway, the new store partnerships being pursued as well as the profitable holiday season that is fast approaching - I think we have far more reasons to be bullish than bearish here. Talking of bullish... Target 1 should it come to pass will be 0.850 AUD per share vs 0.063 at the time of writing - a 13.5x. This is the 0.236 fib to retrace just a short distance of its prior decline. Target 2 would be $20 AUD - a 317x from current price levels, at the 0.5 fib level. Target 3 should you wish to dream so big, would be ~78 or 80, at the 0.618 level. Those targets may sound like something from a TOY store, right? Well, this brand has so much going for it in the years ahead. Not only are we on the cusp of a potential boom in its stock price, we may well be about to turn a corner with a huge baby boom all across the entire Western world. This is against the trend & narrative on display everywhere. Something tells me ToysRUs is about to dramatically grow their loyal customer base of 1.3 million customers. So why not benefit whilst that happens? Risk averse? A stop loss of $0.048 AUD will likely preserve your capital from here. I'm expecting a sharp and sudden impulsive move up out of this latest & last grey descending wedge. Likely to Target 1 within the next 6 months, but be quick because your window of opportunity for a turnaround in the huge holiday season is closing. It will likely be priced-in before earnings on 26th March 2025. Thanks for reading!
ASX:TOYLong
by DigiDavid
1
Alikze »» SEI | Double top - 1D🔍 Technical analysis: Double top formation in the supply area - It is moving in an ascending channel in the daily time frame. - The upward corrective wave has been able to return up to 0.50% of the Fibo of the previous wave, which has faced selling pressure in the supply area with the formation of a twin ceiling. - Currently, with the failure of the negative line and selling pressure, if the price cannot stabilize above the 0.3906 range, there is a continuation of the downward trend up to the block order range. - If it encounters demand in the green box area, it can have a return to the blue box area. 💎 In addition, if the selling pressure is sharp, the probability of breaking the green box area for the target is 0. 1954 will exist. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« BINANCE:SEIUSDT
Short
by alikze
Bitcoin - DOUBLE TOP Weekly TimeframeA Double top in the weekly timeframe is never a good sigh - however, all is not yet lost. One final pattern remains to be seen - and that is the Bump and Run method. Perhaps we can bump that diagonal support around 65k, retest the bulls' determination - and then make the final impulse wave up. There is a fakeout observed on Dogecoin as well, and alts that have increased alongside BTC over the past week will likely fall pretty hard IF Bitcoin cannot keep closing ABOVE 65K. ______________________ BINANCE:BTCUSDT
by CryptoCheck-
4
EURUSD TREND BASE SALE EURUSD BUY ENTRY 1.08217 SL 1.0840 TP 1.0763 The daily market trend is bearish, forming lower lows (LL) and lower highs (LH). On October 22, it broke the support level, created a new low, and is now retesting that support, which is being viewed as resistance after the breakdown. In the 1-hour timeframe, the market has formed a double-top trading pattern. The pattern's neckline broke to the downside with the start of the London session. A trade was taken on the retest of the neckline
Short
by ArtOfTrading33