Long
AKTS - Doubling down for 55% gains in 10 months
Big inverse H&S is near breakout. Conservative investors may want to wait until a weekly close above the 8.88 neckline to jump in. I'm personally taking the break above falling resistance drawn from all-time highs as proof enough that AKTS is done correcting\consolidating. I may be early; DO NOT follow me blindly if your risk profile is different than mine. Note how both shoulders formed as a bounce off very important horizontal support\resistance at 7.33 (green line). The next two levels above which we need decisive closes are 8.41 (yellow) and 8.88 (red). I like how prices are reacting to both long and short term moving averages on the DAILY chart (not shown).
Now for the time estimated to yield the gains projected by the inverse H&S, I simply assume that AKTS will remain inside it's big nice rising channel and trend up from here. Don't fret if this channel does not intercept key lows and highs on the weekly chart. It does on the daily, and I mostly use daily charts to calculate price targets. Blue arrow indicates the earliest date on which the target can be reached while staying inside the present channel (end of April 2021).
Full disclosure: with today's purchase, AKTS makes up roughly 0.9% of total assets. I may increase it further, but only above 8.88 neckline. Hope this helps\interests you, if so let me know.
Now for the time estimated to yield the gains projected by the inverse H&S, I simply assume that AKTS will remain inside it's big nice rising channel and trend up from here. Don't fret if this channel does not intercept key lows and highs on the weekly chart. It does on the daily, and I mostly use daily charts to calculate price targets. Blue arrow indicates the earliest date on which the target can be reached while staying inside the present channel (end of April 2021).
Full disclosure: with today's purchase, AKTS makes up roughly 0.9% of total assets. I may increase it further, but only above 8.88 neckline. Hope this helps\interests you, if so let me know.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.