Do not be Theoretical
This is about recognizing a price pattern in real time and act accordingly without so much rhetoric, without the intention of persuading.
After my gentle introduction, let's concentrate in the main support around 3.00 and especially in the last two price bounces accompanied with a big because this launched the price up and broke the resistance line around 5.00 now the price is testing testing this resistance line and becoming in a new support.
Now I have two target ideas:
First a Swing trade with a target around 9.00
Second a Position trade without a specific target, because the trader he likes this idea can set a personal target based in your personal objectives and your risk reward profile.
This ideas are for long term investors that's why I use these (Weekly Charts with Ten years Horizon)