The stock is currently moving within a classic 6-year Bow & Tie pattern and is trading near a strong support zone. It appears to be in the final stage of its 8th wave formation.
A bounce back from the current support area could initiate the 9th wave, which may offer upside potential of around 80% to 100% over the next 1 to 1.5 years.
However, always use a logical stop-loss and proper risk management to protect capital.
Note: This analysis is for educational purposes only and is not intended as a recommendation or trading advice.
A bounce back from the current support area could initiate the 9th wave, which may offer upside potential of around 80% to 100% over the next 1 to 1.5 years.
However, always use a logical stop-loss and proper risk management to protect capital.
Note: This analysis is for educational purposes only and is not intended as a recommendation or trading advice.
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.