Boxes strategy. $U stock analysis. My plan.

2021년 8월 20일

Here is my technical analysis of U stock using my boxes strategy.

U price has broken out of the box recently on great earnings news.
In 2 days it hit a long-term resistance and reversed down.
Price has bounced off of the box ceiling that has become support now.

I see two scenarious for further stock movement.

Scenario #1.

1. Price breaks the long-term resistence level.
2. It comes back to a strong demand zone (preferrably where box level meets the trend line).
3. Then we move higher.

Scenario #2.

1. Price does not break the long-term resistence level.
2. Stock price goes down and misses the demand zone.
3. We continue to move inside the box.

Remember, action at the demand zone of 115.50 is a crucial point to watch.
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Disclaimer!!!
This is not financial advise.