The chart is actually showing a double bottom pattern. This pattern is characterized by two consecutive low points, followed by a rebound.
Technical Analysis:
* Double Bottom: The formation of two similar low points suggests a potential reversal of a downtrend.
* Neckline: The line connecting the highs between the two lows acts as a neckline. A breakout above the neckline could confirm the bullish reversal.
* Volume: The volume appears to be increasing during the formation of the double bottom, which is a bullish sign.
* Moving Average: The 50-day moving average (MA) is currently below the price, indicating a bullish bias. A break above the MA could further confirm the uptrend.
Trading Strategy:
* Wait for Breakout: A conservative approach would be to wait for a clear breakout above the neckline with increasing volume.
* Stop Loss: Place a stop loss below the recent low to limit potential losses.
* Target: The target could be based on the height of the double bottom or technical indicators like Fibonacci extensions.
Technical Analysis:
* Double Bottom: The formation of two similar low points suggests a potential reversal of a downtrend.
* Neckline: The line connecting the highs between the two lows acts as a neckline. A breakout above the neckline could confirm the bullish reversal.
* Volume: The volume appears to be increasing during the formation of the double bottom, which is a bullish sign.
* Moving Average: The 50-day moving average (MA) is currently below the price, indicating a bullish bias. A break above the MA could further confirm the uptrend.
Trading Strategy:
* Wait for Breakout: A conservative approach would be to wait for a clear breakout above the neckline with increasing volume.
* Stop Loss: Place a stop loss below the recent low to limit potential losses.
* Target: The target could be based on the height of the double bottom or technical indicators like Fibonacci extensions.
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.