The retracement within the “flag” pattern is expected to end as the stock is now in the oversold region and is hovering around the same price zone after rebounding off 61.8% Fibonacci retracement which coincides with mid-line of BB (20-day SMA)
The stock as a solid chance to break out the flag pattern to continue its uptrend movement.
Next R/ TP:
• 1.965
• 2.09 (38.2% FE)
• 2.41 (ATH + 61.8% FE)
• 2.90 (100% FE)
Support:
• 1.59 (61.8% FR)
• 1.37 (78.6% FR)
Note: This trading idea is for educational purpose only and not to be construed as a buy call. The mantra of TAYOR and caveat emptor shall apply.
The stock as a solid chance to break out the flag pattern to continue its uptrend movement.
Next R/ TP:
• 1.965
• 2.09 (38.2% FE)
• 2.41 (ATH + 61.8% FE)
• 2.90 (100% FE)
Support:
• 1.59 (61.8% FR)
• 1.37 (78.6% FR)
Note: This trading idea is for educational purpose only and not to be construed as a buy call. The mantra of TAYOR and caveat emptor shall apply.