I see several compelling reasons to be bullish on DLNG:
Breakout of Long-Term Consolidation:
The stock has decisively broken out of a multi-month consolidation zone around $4.22. It has since retested this level, confirming it as support. This breakout suggests that momentum is shifting in favor of the bulls.
Liquidity Gap to Target:
There is a clear liquidity gap on the chart, providing a smooth path for price movement from the current levels to $8.00. Such gaps often act as magnets for price action, increasing the likelihood of upward continuation.
Moving Averages Alignment:
The stock is trading above key moving averages (e.g., 50-day and 200-day), a classic signal of bullish momentum. Additionally, the moving averages are likely forming a "golden cross" pattern (if applicable), which strengthens the bullish outlook.
Volume Confirmation:
Recent price movement has been accompanied by increasing volume, adding credibility to the breakout. Higher volume on breakouts often indicates institutional interest and a higher probability of sustained price movement.
RSI and Momentum Indicators:
Momentum indicators like RSI are likely in bullish territory but not yet overbought, leaving room for further upside.
Key Levels to Watch:
Support: $4.22 (previous breakout level)
Resistance: $8.00 (liquidity gap target)
Please, do your own research!
Breakout of Long-Term Consolidation:
The stock has decisively broken out of a multi-month consolidation zone around $4.22. It has since retested this level, confirming it as support. This breakout suggests that momentum is shifting in favor of the bulls.
Liquidity Gap to Target:
There is a clear liquidity gap on the chart, providing a smooth path for price movement from the current levels to $8.00. Such gaps often act as magnets for price action, increasing the likelihood of upward continuation.
Moving Averages Alignment:
The stock is trading above key moving averages (e.g., 50-day and 200-day), a classic signal of bullish momentum. Additionally, the moving averages are likely forming a "golden cross" pattern (if applicable), which strengthens the bullish outlook.
Volume Confirmation:
Recent price movement has been accompanied by increasing volume, adding credibility to the breakout. Higher volume on breakouts often indicates institutional interest and a higher probability of sustained price movement.
RSI and Momentum Indicators:
Momentum indicators like RSI are likely in bullish territory but not yet overbought, leaving room for further upside.
Key Levels to Watch:
Support: $4.22 (previous breakout level)
Resistance: $8.00 (liquidity gap target)
Please, do your own research!
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.