While short-term indicators show some bullish signs, the medium- and long-term trends remain bearish.
The stock might remain range-bound for a couple of weeks before any uptrend, which will only be confirmed once it breaks the parallel line before making a fresh upmove. Also, $27.5 can be taken as support post the rise.
Once the parallel channel is broken, it might shoot to double within no time, and that's probably going to be the 3rd wave up with a target of around 60.
If you have a long-term horizon of three to five years, you can accumulate this stock at all levels below covid low for multiple times gains
The stock might remain range-bound for a couple of weeks before any uptrend, which will only be confirmed once it breaks the parallel line before making a fresh upmove. Also, $27.5 can be taken as support post the rise.
Once the parallel channel is broken, it might shoot to double within no time, and that's probably going to be the 3rd wave up with a target of around 60.
If you have a long-term horizon of three to five years, you can accumulate this stock at all levels below covid low for multiple times gains
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.