Upstart Holdings โ Cup Bottom and Ascending Channel Setup
๐ General Overview
- The stock is currently trading at $50.07, showing a -1.79% daily loss.
- The price is moving within an ascending channel (orange dotted lines), suggesting a long-term uptrend.
- A strong rebound since the April 2025 bottom stands out, with a 76.37% rise from lows.
๐ Chart Patterns & Indicators
๐ฅ Resistance Zones and Price Targets
- The $55 range (pink zone) is acting as a strong resistance.
- A breakout above this zone may repeat the previous move upward ($23.84 gain / +41.97%), targeting the $80 level.
๐ป Reverse Head and Shoulders Recovery Pattern
- The sharp drop and rapid rebound formed a V-bottom, often signaling strong reversals and bullish momentum.
- This is reinforced by increasing higher lows since April.
๐ Ascending Channel
- The price is clearly respecting the ascending channel boundaries.
- The lower orange dotted line acts as dynamic support, while the upper line may - define the next ceiling near $95โ100.
๐ MACD Indicator (Momentum)
- The MACD lines are about to cross upward in the positive regionโan early bullish momentum signal.
- However, a yellow warning symbol indicates possible caution due to increased volatility or overbought conditions.
๐ฏ Strategy & Expectations
- The $50โ55 area is a critical resistance zone to watch.
- A successful breakout above $55 could technically extend the move toward $80.
- Confirmation from MACD and volume spikes would strengthen the bullish case.
- A stop-loss below $45 can be considered if the price gets rejected again at resistance.
- The stock is currently trading at $50.07, showing a -1.79% daily loss.
- The price is moving within an ascending channel (orange dotted lines), suggesting a long-term uptrend.
- A strong rebound since the April 2025 bottom stands out, with a 76.37% rise from lows.
๐ Chart Patterns & Indicators
๐ฅ Resistance Zones and Price Targets
- The $55 range (pink zone) is acting as a strong resistance.
- A breakout above this zone may repeat the previous move upward ($23.84 gain / +41.97%), targeting the $80 level.
๐ป Reverse Head and Shoulders Recovery Pattern
- The sharp drop and rapid rebound formed a V-bottom, often signaling strong reversals and bullish momentum.
- This is reinforced by increasing higher lows since April.
๐ Ascending Channel
- The price is clearly respecting the ascending channel boundaries.
- The lower orange dotted line acts as dynamic support, while the upper line may - define the next ceiling near $95โ100.
๐ MACD Indicator (Momentum)
- The MACD lines are about to cross upward in the positive regionโan early bullish momentum signal.
- However, a yellow warning symbol indicates possible caution due to increased volatility or overbought conditions.
๐ฏ Strategy & Expectations
- The $50โ55 area is a critical resistance zone to watch.
- A successful breakout above $55 could technically extend the move toward $80.
- Confirmation from MACD and volume spikes would strengthen the bullish case.
- A stop-loss below $45 can be considered if the price gets rejected again at resistance.
Nota
This was more than just a typical pullbackIt initially broke above resistance and turned it into support.
But the pullback was so aggressive that it broke back below that support.
And now, we've broken that level yet again.
At this point, itโs clear that this zone no longer acts as reliable support. The market has shown that it can break through it from both directions, undermining its strength as a key level.
Anyway, our target is now under radar.
Dagangan ditutup: sasaran tercapai
Buy: 50Sell: 80
60% in four weeks.
Planning to trade it again soon.
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.