So what is in for the future?
The fundamental jump has confirmed the existence of a medium scale ascending pattern (purple lines). Taking into account, where are the of the long term dominant pattern (blue lines), the stock is set for more and more gains.
However, that does not necessarily mean that one should just go long on the stock. There is something much more complicated.
The jump also confirmed the junior pattern (black lines). Although, after the bounce off from the medium pattern’s resistance, the junior pattern should become obsolete (it will be broken and sent to hell (or Valhalla, as it has served its purpose).
Before that occurs the black channel has one last trick up its sleeve. The lower of it has not been passed. Actually, the drop on Friday stopped just before reaching the support line.
Due to that reason on Monday one needs to watch, whether it holds the ground or lets the stock fall down. If it lets it pass, then the range down to the support cluster that surrounds the 120 mark will be targeted.
On the other hand the support might hold and propel the price into another attempt to break properly above the 130.00 mark.
Meanwhile, I have conducted an experiment with the levels. By setting the 100% mark at the low level of the black channel and the 0% at the high achieved after the call, it can be seen that the first notable retracement level at 126.50 provided support to the stock.
Coincidentally or not the next one is crossing the support line of the channel. Sooooo.. to be exact the 124.00 level will be on the spotlight on Monday.
Had to adjust the purple and even previous black lines while drawing the active junior pattern. Check out the full picture. Might comment in the weekend more.
If anyone is interested,I can explain upon request.
I have nothing on this now. Will just watch the purple support.
If you have any questions, feel free to ask. :)
I am sure that I skiped a lot of stuff, just because the idea to create this profile after all and write down all of my stuff came out of an initial coffee craze.