QYOU trade ideas
QYOU Descending Wedge Pattern - Bullish Signal Formation The descending triangle (bearish signal) has played itself out confirming it's break below support and and is now forming a descending wedge (bullish signal). This pattern is confirmed with 3 reaction highs and 2 reaction lows (lower highs, lower lows). The daily chart looks primed for a breakout, the hour chart looks exhausted and may need a pull back. Will be following this to see whether indeed it does retrace to test support one more time or the breakout could be taking place soon.
QYOU (44%) Cup and Handle PatternTaking a look at QYOU.CA on the 1 day time frame we see a cup and handle pattern forming. Entry point is at $0.335 and take profits at $0.48 (last resistance). Look for re-entry if breakout past $0.48 and new support forms.
Cons:
Price below 10EMA
Price not quite above 50EMA
MACD Descending and challenging negative area.