I fundamentally bullish on this company and think it might be a potential true-market leader in next market up-trend (if we see one in coming years).
Structurally speaking, I may see full first impulsive structure completed with today's burst into the top border resistance zone for the final wave (c.v of 1).
If this structure will prove to be correct, classical support area for potential correction: 61-55 area.
If price follows through to the upside and closes above todays highs, then next resistance level is: 75-81 zone. Moving above 81 will be a sign to re-consider suggested price structure.
Thank you for your attention!
Structurally speaking, I may see full first impulsive structure completed with today's burst into the top border resistance zone for the final wave (c.v of 1).
If this structure will prove to be correct, classical support area for potential correction: 61-55 area.
If price follows through to the upside and closes above todays highs, then next resistance level is: 75-81 zone. Moving above 81 will be a sign to re-consider suggested price structure.
Thank you for your attention!
Dagangan ditutup: hentian tercapai
Got stopped out with 4% loss on gap-up open 18th of Jan. Strong demand in semiconductor sector. Was not able to quickly shift to buyable gap-up as 360d-approach to market, although all the parameters were there.
Structurally speaking, I can interpret this move as a running flat formation, where price got a little ahead of itself with overwhelming demand and still needs to correct before the bullish third wave unfolds its full potential later this year.
Until price closes bellow 80, the correction to 66-61 support zone is still possibility.
From tactical trading perspective, If one is inclined to try to short ARTM, the move bellow left-side pick at 78.66 could be considered an entry point with 2-3% stop.
Strong move above 80, would shift my interpretation of the structure to wave 2 being finished and price already is its third wave uptrend.
Nota
With earnings move on 8th of Feb., price has decisively put waves 1-2 in place as per the operative interpretation of the structure.Until price holds and closes above 96 (0.618% of wave 1 from 2), the structure calls for continuation move towards next macro-resistance zone: 143-162, with following support area for any consolidation/correction at: 117-103 with follow-up move towards 175-200 area as the major resistance zone for the impulsive structure from Oct'23 lows.
Делюсь опытом работы на финансовых рынках в личном блоге: t.me/marketartistry
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.
Делюсь опытом работы на финансовых рынках в личном блоге: t.me/marketartistry
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.