DUK: the bigger the base, the bigger the space
A price actioin above 94.00 supports a bullish trend direction.
The price action is contained between the 200-day and 200-week simple moving averages.
Bullish confirmation for a break above 97.00 (which is the 23.6% Fibonacci retracement level as well).
The stop-loss price is set at 94.00.
The price action is busy developing a base.
A base-forming price action typically indicates a period of consolidation in the stock, where the price moves sideways after a decline, suggesting potential stabilisation before a possible upward trend.
The price action is contained between the 200-day and 200-week simple moving averages.
Bullish confirmation for a break above 97.00 (which is the 23.6% Fibonacci retracement level as well).
The stop-loss price is set at 94.00.
The price action is busy developing a base.
A base-forming price action typically indicates a period of consolidation in the stock, where the price moves sideways after a decline, suggesting potential stabilisation before a possible upward trend.