Auto Trader - Accumulation Wyckoff Event. Long Term Target 820
Auto Trader is n the latter phase of an 2 year accumulation that began a few months after IPO.
SOS in the last couple of days following on from the typical phase C higher lows suggest that floating supply has been dried up and the markup phase is about to begin.
P&F count give an upper price target of 820 - there is no timeline on this target.
o the H1 TF, bears are attempting to bring the price back to the green TR for a BU test. Their efforts are so far unsuccessful.
SOS in the last couple of days following on from the typical phase C higher lows suggest that floating supply has been dried up and the markup phase is about to begin.
P&F count give an upper price target of 820 - there is no timeline on this target.
o the H1 TF, bears are attempting to bring the price back to the green TR for a BU test. Their efforts are so far unsuccessful.
A strong move to/through this range would constitute a jump across the creek, further strengthening the long term bull case. Bull flag forming around the 420 mark at the time of writing.