After heading towards historical support we have found signs of a reversal amongst FUTU. We are seeing a text book Squeeze signal as seen by the increase of buying momentum, followed by volatility. Not only have we seen bullish signs amongst the daily but we can see reduced selling momentum on the weekly time frame, which gives us greater confirmation that we are not fighting the trend. After applying a Fib-Trend extension we can see where potential price targets may lie. I personally would hold until 170 or the 0.5 retracement since we are seeing bullish signs to such a great degree, but for those that want a quick scalp I like the idea of swinging to 130 since that is where a anchored VWAP rest followed by a 0.236 Fib retracement that also rest there(increasing the validity of that zone).
Bullish Signals
-Squeeze Indicator
-Willy Oscillator
Price Targets
- 1st 125
- 2nd 150
- 3rd 170
Bullish Signals
-Squeeze Indicator
-Willy Oscillator
Price Targets
- 1st 125
- 2nd 150
- 3rd 170