🔍 Chart Structure & Key Levels
Horizontal Resistance:
The stock is repeatedly testing the $147.75 level, which is acting as a horizontal resistance (shown in orange). Price has stalled here for several sessions, creating a tight range just below resistance—a common precursor to breakouts.
Ascending Trendline Support:
A long-term upward trendline (dashed yellow) supports the current move. Price has respected this line multiple times, showing a strong bullish structure over the past few months.
Volume Analysis:
Volume has decreased during the recent consolidation near the highs, which is typical before a breakout. However, we want to see a volume spike on a confirmed breakout above $147.75 to validate strength.
Symmetrical Triangle / Coil:
There's a tightening pattern forming between the rising trendline and the flat resistance, indicating price compression. This type of structure is often resolved with a large directional move.
âś… Bullish Scenario
A confirmed breakout above $147.75 with volume expansion could trigger a strong upward move.
Price could quickly target the psychological level near $150, and potentially beyond to $155+, based on the height of the prior impulse wave.
⚠️ Bearish Breakdown Scenario
If price fails to break above $147.75 and breaks the ascending trendline, a pullback to $140 or $135 becomes likely.
A breakdown would invalidate the current bullish structure and signal a potential short-term reversal.
🧠Summary
This chart is in a bullish consolidation with a coiled setup just under major resistance. A breakout above $147.75 is the critical level to watch for upside continuation. Traders should monitor volume and candlestick confirmation before entering positions.
Horizontal Resistance:
The stock is repeatedly testing the $147.75 level, which is acting as a horizontal resistance (shown in orange). Price has stalled here for several sessions, creating a tight range just below resistance—a common precursor to breakouts.
Ascending Trendline Support:
A long-term upward trendline (dashed yellow) supports the current move. Price has respected this line multiple times, showing a strong bullish structure over the past few months.
Volume Analysis:
Volume has decreased during the recent consolidation near the highs, which is typical before a breakout. However, we want to see a volume spike on a confirmed breakout above $147.75 to validate strength.
Symmetrical Triangle / Coil:
There's a tightening pattern forming between the rising trendline and the flat resistance, indicating price compression. This type of structure is often resolved with a large directional move.
âś… Bullish Scenario
A confirmed breakout above $147.75 with volume expansion could trigger a strong upward move.
Price could quickly target the psychological level near $150, and potentially beyond to $155+, based on the height of the prior impulse wave.
⚠️ Bearish Breakdown Scenario
If price fails to break above $147.75 and breaks the ascending trendline, a pullback to $140 or $135 becomes likely.
A breakdown would invalidate the current bullish structure and signal a potential short-term reversal.
🧠Summary
This chart is in a bullish consolidation with a coiled setup just under major resistance. A breakout above $147.75 is the critical level to watch for upside continuation. Traders should monitor volume and candlestick confirmation before entering positions.
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.