(ANKR-USD) Will Fall be a Summer repeat for ANKR?
At the beginning of August ANKR went on a 10-day parabolic run after spring-boarding off it's base trend line (Green Line) and it's local-floor support (first Dashed Line), smashing thru the overhead resistance (first Red Line).
Approaching a month later since the end of it's parabolic run and a very similar picture appears. The Base trend-line still intact, with price-action heading back to it's local-floor support there's a good chance that once again this acts as a spring-board that will smash thru the newest overhead resistance trend line (second Red Line).
Approaching a month later since the end of it's parabolic run and a very similar picture appears. The Base trend-line still intact, with price-action heading back to it's local-floor support there's a good chance that once again this acts as a spring-board that will smash thru the newest overhead resistance trend line (second Red Line).
Will need another solid month of price action to confirm but there is concern of a multiple month H&S pattern forming here on the daily chart. If a right shoulder were to form over the next month I'd steer clear in-case of a big shake out.