Technical:
It has hold the major 200 ma on daily timeframe with ma30, 50 support
The $120 resistance (tested for 11 weeks) from ma 100 weekly timeframe will likely to become support since the daily timeframe holds and form a short base throughout Aug.
Currently at the low point of trend continuation after weekly timeframe pullback since may 2024.
If there is lack of momentum to breakout , it will likely to test back the 100 level, and could even breakthrough it to create a deeper retracement. as 11 weeks of testing $120 could be distribution rather than accumulation .
However, I think distribution is less likely given fundamental support of the company and still able accumulate right now at $120 and target >$160. My first call is at $113 and this is my second call.
It has hold the major 200 ma on daily timeframe with ma30, 50 support
The $120 resistance (tested for 11 weeks) from ma 100 weekly timeframe will likely to become support since the daily timeframe holds and form a short base throughout Aug.
Currently at the low point of trend continuation after weekly timeframe pullback since may 2024.
If there is lack of momentum to breakout , it will likely to test back the 100 level, and could even breakthrough it to create a deeper retracement. as 11 weeks of testing $120 could be distribution rather than accumulation .
However, I think distribution is less likely given fundamental support of the company and still able accumulate right now at $120 and target >$160. My first call is at $113 and this is my second call.
Nota
Disclaimer: All content is for informational purposes only and does not constitute financial advice. Investments involve risk. Consult a qualified financial professional before making any financial decisions.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.