A convergence of factors that pleads for a bull-run :
- The price touchs on April 13, 2021 its 200-day SMA,
- The price may soon drop back to the 0.786 Fibonacci level. This ratio is obtained by considering the date of November 2, 2020, i.e. the last price that touched the green uptrend line. Indeed, we must consider that the action seems to want to retest this bullish slant;
- The price is now down to 2/3 of the red-green falling wedge, which is an ideal situation for a breakout,
- The stock could soon find its 1st pivot point support,
- We can observe a beginning of a tightening of the Bollinger bands with in particular a raising of the lower limit.
Stategy :
1) We could anticipate a large and powerful purchasing zone between $ 25.4 and $ 28.9 (cf. purple range).
2) Ideally, it will be necessary to wait for a confirmation with the break on volumes of the top of the descending bevel.
Medium-short-term goals :
closing the gaps opened at 42.5$ (1) and 46$ (2).
- The price touchs on April 13, 2021 its 200-day SMA,
- The price may soon drop back to the 0.786 Fibonacci level. This ratio is obtained by considering the date of November 2, 2020, i.e. the last price that touched the green uptrend line. Indeed, we must consider that the action seems to want to retest this bullish slant;
- The price is now down to 2/3 of the red-green falling wedge, which is an ideal situation for a breakout,
- The stock could soon find its 1st pivot point support,
- We can observe a beginning of a tightening of the Bollinger bands with in particular a raising of the lower limit.
Stategy :
1) We could anticipate a large and powerful purchasing zone between $ 25.4 and $ 28.9 (cf. purple range).
2) Ideally, it will be necessary to wait for a confirmation with the break on volumes of the top of the descending bevel.
Medium-short-term goals :
closing the gaps opened at 42.5$ (1) and 46$ (2).