Saturday, May 13, 2017 1:52:58 PM
Hi kittycattt...nice looking chart, looks like a well-defined-bottoming process to me...
I'd call it an unconventional 2B Dragon pattern.
The drop from top at A to the bottom at B went like a hot knife thru butter...There's a lot of "free air" above C
which is about at the same level as where price is heading now -- the current down trend line.
Even though it's currently O/S, I'd enter now...might miss it you wait for a pullback...
(ie a Dragon's "Head" consolidation might form below the trend line...)
The recent up thrust looks strong so it may not give you that chance.
If it breaks-out:
The "HUMP" is the next target area, then the 200 EMA are natural resistance zones before the final run to the "Top of the Tail...
I'd call it an unconventional 2B Dragon pattern.
The drop from top at A to the bottom at B went like a hot knife thru butter...There's a lot of "free air" above C
which is about at the same level as where price is heading now -- the current down trend line.
Even though it's currently O/S, I'd enter now...might miss it you wait for a pullback...
(ie a Dragon's "Head" consolidation might form below the trend line...)
The recent up thrust looks strong so it may not give you that chance.
If it breaks-out:
The "HUMP" is the next target area, then the 200 EMA are natural resistance zones before the final run to the "Top of the Tail...
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