May continue to 6.65, but I took this opportunity to start building a position.
GNUS is staying above its trend line. A price channel is beginning to emerge --> potential movement in the next 4-5 days.
Potential entries based on: -support/resistance lines -symmetrical triangle breakout Numbered in likely order of occurrence
Look out for a strong break out of the trading range for a long entry after a retest of the 116.25 resistance line (then acting as support). Long-term profit target is $200 and short-term is $144.
Potential entry area on chart.
Entry on support after range breakout Long-term PT using PnF chart measurement PT: 177.98
Short, mid, and long term PTs and trade length may be approximated from IEA's historical behavior. 4 rallies and 3 consolidations/corrections in the chart, keep in mind rally 4 may not be over so will have to wait and see how it develops this week. Can use average/median/mode to identify a goal, you pick.
Potential entry and short/long term price targets highlighted.
Likely to head up next week. Right now testing the 23.6% retracement level.
Trendline + break of resistance + ema --> pretty bullish
Price/volume look more bullish on 30m chart
Analysis of price and volume on 30 minute bar chart --> sellers still present and strong
Symmetrical triangle formed on the 5m chart, upward move expected to continue Monday
Long entry on test of 52.85 support
Entry and minimum PT
Wyckoff reaccumulation phase breakout ---> test last support ---> head higher.
Weekly channel is up ---> bullish Strong tests of resistance fail to follow-through ---> bearish Price volume higher on bullish bars and decreases on bearish bars ---> bullish Price action can be interpreted as distribution or accumulation ---> neutral Increased institutional interest ---> bullish Dilution ---> bearish (probably short-term) CONCLUSION: could...
Levels based on the daily chart (higher time-frame ---> more significant levels) Price may hang around these levels on the way up ---> long-term trade Short/Intraday trades ---> potential entry/exit levels