There is a H&S pattern almost completed in the 4h chart (H&S has an approx. 60% probability of positive out-come) with an approx. extension target to US$ 44. We do not know what the trigger for this could be as stocks are pretty high historically, but from a technical point of view, there is a good chance of prices keeping to crawl upwards.
The rapid b/d made me thinking about to become bearish, but looking at the chart picture I think it is better to think more for the bullish side in order to make no mistake. I will try to make a short term long position with a stop at around US$ 37.
The rapid b/d made me thinking about to become bearish, but looking at the chart picture I think it is better to think more for the bullish side in order to make no mistake. I will try to make a short term long position with a stop at around US$ 37.
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REMARKS: the green and yellow lines are RENKO resistance/support levels. Interestingly, the red target line is as well a support level earlier on during the down movement.