WOLFSPEED Rallies! Long Trade Hits All Targets, Bulls Dominate

Oct 16

Technical Analysis: Wolfspeed – 15-Minute Timeframe (Long Trade)

Wolfspeed demonstrated strong bullish momentum, with a long trade entry at 10.23 and successfully reaching all profit targets.

Key Levels

• Entry: 10.23 – The long position was initiated at this level, marking the start of a strong upward movement.
  
• Stop-Loss (SL): 9.75 – Positioned below recent support to manage risk and protect against potential downside.
  
• Take Profit 1 (TP1): 10.83 – The first target was achieved, confirming the strength of the bullish trend.
  
• Take Profit 2 (TP2): 11.80 – Continued momentum pushed the price to this level.
  
• Take Profit 3 (TP3): 12.77 – The bullish rally extended further, reaching this target.
  
• Take Profit 4 (TP4): 13.37 – The final target, signaling a complete and highly successful upward move.
  

Trend Analysis
The price has consistently remained above the Risological Dotted trendline, affirming the strength of the uptrend. The bullish surge indicates strong market interest, supporting further upward moves, though all profit targets have been met.

The long trade on Wolfspeed performed exceptionally well, hitting all designated targets. The final TP4 at 13.37 reflects a robust upward trend, well-supported by the Risological Dotted trendline. The sustained buying pressure indicates that the bulls have maintained control throughout the move.