On the daily chart we see a massive symmetrical triangle that started in June 21 when the price rallied from the low $2s to a high of $10.20.
Price has bounced within the triangle testing the testing the ascending and descending trend lines 4 times.
The current price is exactly at the POC line, where the most volume of shares have traded from June 21, 2021 to current. The MACD is positive and the D+ is crossing the D- suggesting a the start of a new uptrend.
It is also relevant to mention that we are currently approx 75% thru the triangle formation a point where break outs or break downs often occur.
Looking for a break above the descending trend line with high relative volume to confirm the breakout.
$7.46 short term target. Catalysts will ultimately determine the upcoming move.
Looking for new highs in the mid to long term.
Price has bounced within the triangle testing the testing the ascending and descending trend lines 4 times.
The current price is exactly at the POC line, where the most volume of shares have traded from June 21, 2021 to current. The MACD is positive and the D+ is crossing the D- suggesting a the start of a new uptrend.
It is also relevant to mention that we are currently approx 75% thru the triangle formation a point where break outs or break downs often occur.
Looking for a break above the descending trend line with high relative volume to confirm the breakout.
$7.46 short term target. Catalysts will ultimately determine the upcoming move.
Looking for new highs in the mid to long term.