📈 Technical Analysis:
Strong breakout seen on the daily chart after price moved above a key neckline zone, signaling potential trend reversal.
Price has also closed above the 200-day moving average (200 MA) on the daily timeframe – a strong bullish indicator.
On the weekly chart, there's noticeable buying momentum, with a breakout above the 50-week moving average (50 MA), confirming strength on a higher timeframe.
📊 Overall View:
Multiple bullish confirmations across daily and weekly charts suggest further upside potential.
A successful of the breakout zone could lead to strong upward continuation.
✅ Bias: Bullish
🔎 Watch Levels:
Support: Breakout zone / 200 MA
Resistance: Previous swing highs
🚫 Disclaimer: This is not financial advice. Please do your own research and consult your financial advisor before making any investment decisions.
Strong breakout seen on the daily chart after price moved above a key neckline zone, signaling potential trend reversal.
Price has also closed above the 200-day moving average (200 MA) on the daily timeframe – a strong bullish indicator.
On the weekly chart, there's noticeable buying momentum, with a breakout above the 50-week moving average (50 MA), confirming strength on a higher timeframe.
📊 Overall View:
Multiple bullish confirmations across daily and weekly charts suggest further upside potential.
A successful of the breakout zone could lead to strong upward continuation.
✅ Bias: Bullish
🔎 Watch Levels:
Support: Breakout zone / 200 MA
Resistance: Previous swing highs
🚫 Disclaimer: This is not financial advice. Please do your own research and consult your financial advisor before making any investment decisions.
Trade closed: target reached
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.