Price have been moving in a slightly bearish channel since March, here it formed an ABCD pattern and broke out. Price then tested a bearish trendline and fell back into the channel again.
On the weekly, price have been moving in a massive flag formation with a minimum target at 4.77 dollars if it breaks out bullish. This flag formation has just been broken to the upside and could be setting up for an uptrend to the moon.
From July 14 to July 21 price contracted and lacked liquidity, afterwards it started expanding and tested support from lower breakout line at 2.07 dollars. This push down most likely came from smart money trying to get the stock at the lowest price, without breaking out the price bearish.
Price is still in the expansion phase but with strength from the flag formation it could be testing the upper breakout line at 2.77 dollars. If the stock can break this line, it will go into the breakout phase and we could potentially see some big moves to the upside.
On the weekly, price have been moving in a massive flag formation with a minimum target at 4.77 dollars if it breaks out bullish. This flag formation has just been broken to the upside and could be setting up for an uptrend to the moon.
From July 14 to July 21 price contracted and lacked liquidity, afterwards it started expanding and tested support from lower breakout line at 2.07 dollars. This push down most likely came from smart money trying to get the stock at the lowest price, without breaking out the price bearish.
Price is still in the expansion phase but with strength from the flag formation it could be testing the upper breakout line at 2.77 dollars. If the stock can break this line, it will go into the breakout phase and we could potentially see some big moves to the upside.