As always with any timeframes under the 1day, the reliability of chart patterns playing out starts to reduce the smaller and smaller the time frame you go to but the 4hr does seem to validate its fair share of chart patterns often enough to take this 4hr inverse head and shoulders serious. If it can reach it’s full target it will climb to 59 cents here Ithink the next few days to a week or two, however we can see the pump is currently running into some long standing resistance that it may take quite a few retests on before it can break through those and head to the full target. The good news is, in reaching the full 59 cent target by breaking above the current resistance, we will likely also trigger/validate the breakout of a much bigger higher time frame chart pattern or 2 that should hopefully create a domino effect and send price soaring in the near future. *not financial advice*
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Can’t see it on this chart here because it is a 4hr instead of 1 day but on the 1 day chart the daily 4 50 ma is maintaining current candle body resistance. I expect that to be temporary but we will see soon enough.
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Retested the invh&s neckline but so far its holding as support.
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After dipping back below the teal neckline the measured move line had to be readjust to the new lint of breakout, which has put the target for that breakout at .589.. in going back belo the neckline it also ended up creating a bigger inv h&s in the process (not shown here) and we are also now currently above that neckline as well
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Target hit precisely! Click play and watch price action magically run directly into th price label :P