Let's take a look a look at Coti on the daily with Ichimoku
Coti has been forming a cup and handle pattern. After the handle got broken price has been going up and got rejected at the very important resistance level. This level is also the 0.382 fib extension level. The target of the cup and handle is at the all-time high at 0.6090 cent. But before price gets there, it need to break two important resistance levels. Maybe it's a good idea to take some profits at 0.786 fib level.
If we look at Ichimoku confirmations we see:
-price is now above Tenkan Sen, Kijun Sen, Senkou Span A and B. Meaning Coti is bullish in short, midterm and longterm.
- Tenkan Sen and Kijun Sen are retracing to eachother, meaning no trend in short term and midterm.
-Kumo (ssa and ssb) is flat. Meaning no trend in long term.
-Chiko Span is above the candles meaning bullish market sentiment (momentum)
We can say that with the closing of this recent (bullish engulfing candle) we are bullish in short, mid and longterm. And we are good to go to our targets.
If we look at Ichimoku confirmations we see:
-price is now above Tenkan Sen, Kijun Sen, Senkou Span A and B. Meaning Coti is bullish in short, midterm and longterm.
- Tenkan Sen and Kijun Sen are retracing to eachother, meaning no trend in short term and midterm.
-Kumo (ssa and ssb) is flat. Meaning no trend in long term.
-Chiko Span is above the candles meaning bullish market sentiment (momentum)
We can say that with the closing of this recent (bullish engulfing candle) we are bullish in short, mid and longterm. And we are good to go to our targets.