$DEGO Breakout: Retest of $13.64 --> Rally to $19.93
From its ATH in March, DEGO corrected 84% which bottomed near end of June. Since then, DEGO has seen a pump of nearly 220%, peaking end of August. During bloody September, DEGO saw a correction of nearly 53%, dipping below the 200EMA on the daily time frame. Since then we've seen some sideways trading, leaning toward the up-side. DEGO is now comfortably above the 200EMA and looks to be ready to be sling-shotted from the 20EMA.
DEGO is also forming a huge inverse head and shoulders pattern where we're nearing the neckline. I analyze a breakout to $13.64 where we'll retest the high of the Jun-Aug pump. From there, we'll see a minor correction and then rally up to $19.93, the high of Wave_B in the first large correction where we may see some resistance and side-ways trading. It should have enough momentum to break through the previous ATH and then head into price discovery.
DEGO is also forming a huge inverse head and shoulders pattern where we're nearing the neckline. I analyze a breakout to $13.64 where we'll retest the high of the Jun-Aug pump. From there, we'll see a minor correction and then rally up to $19.93, the high of Wave_B in the first large correction where we may see some resistance and side-ways trading. It should have enough momentum to break through the previous ATH and then head into price discovery.
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.