A price action above 259.00 supports a bullish trend direction.
Increase long exposure for a break above 264.00.
The target price is set at 269.00 (the upper range of the broadening top pattern).
The stop-loss price is set at 255.00 (just above its 23.6% Fibonacci retracement level).
Remains above its 200-day simple moving average.
An incomplete broadening top pattern, characterised by increasing peaks and troughs. This scenario can indicate that buyers are gaining strength and are able to push the price up before the pattern completes, potentially leading to a continuation or initiation of an upward trend in the stock.
Increase long exposure for a break above 264.00.
The target price is set at 269.00 (the upper range of the broadening top pattern).
The stop-loss price is set at 255.00 (just above its 23.6% Fibonacci retracement level).
Remains above its 200-day simple moving average.
An incomplete broadening top pattern, characterised by increasing peaks and troughs. This scenario can indicate that buyers are gaining strength and are able to push the price up before the pattern completes, potentially leading to a continuation or initiation of an upward trend in the stock.