+50% Bullish Move coming on X
Good morning traders, today we want to show you our bullish projection on X, since we consider that it has excellent potential for the medium-long term.
🔸To achieve this analysis, we draw the corrective pattern on the monthly chart that has been taking shape since the great fall of 2008, it is a kind of wedge.
🔸The main characteristic of the wedges is that they are composed of 5 ABCDE waves, and in the current figure we see that 4 of the 5 have been formed.
🔸Wave D generated a double bottom in the previous support zone, and since then the price has been rising aggressively, which shows a lot of buying strength in this stock.
🔸We consider that wave E is happening right now, and the target zone corresponds to the Descending Trendline, which is in confluence with a supply zone.
🔸This upward movement corresponds to a rise of approximately 50% in the price.
🔸To achieve this analysis, we draw the corrective pattern on the monthly chart that has been taking shape since the great fall of 2008, it is a kind of wedge.
🔸The main characteristic of the wedges is that they are composed of 5 ABCDE waves, and in the current figure we see that 4 of the 5 have been formed.
🔸Wave D generated a double bottom in the previous support zone, and since then the price has been rising aggressively, which shows a lot of buying strength in this stock.
🔸We consider that wave E is happening right now, and the target zone corresponds to the Descending Trendline, which is in confluence with a supply zone.
🔸This upward movement corresponds to a rise of approximately 50% in the price.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.