To project targets, I am using the following methods:
Cup and Handle Pattern
If we consider the price range of $709.02 - $338.24 as forming a cup and handle pattern, the price movement represents approximately a 52% increase.
Projecting this on the upside sets a target of around $1078.79, which was achieved last week.
A weekly close above $1122.44 will signal a potential next target at $1316.16, derived from the 2.61% Fibonacci extension applied to the range of $709.02 - $338.24.
Fibonacci Extensions
Using Fibonacci extensions on the same price range, the 2.61% target aligns with $1316.16 as the next significant resistance level.
Key Levels:
Support: The uptrend remains intact as long as $906 holds.
Downside Risk: If $906 is breached, the next downside target is $709.02.
Cup and Handle Pattern
If we consider the price range of $709.02 - $338.24 as forming a cup and handle pattern, the price movement represents approximately a 52% increase.
Projecting this on the upside sets a target of around $1078.79, which was achieved last week.
A weekly close above $1122.44 will signal a potential next target at $1316.16, derived from the 2.61% Fibonacci extension applied to the range of $709.02 - $338.24.
Fibonacci Extensions
Using Fibonacci extensions on the same price range, the 2.61% target aligns with $1316.16 as the next significant resistance level.
Key Levels:
Support: The uptrend remains intact as long as $906 holds.
Downside Risk: If $906 is breached, the next downside target is $709.02.
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.