Bull Flag Pattern; Fibonnaci Retracement at 50%
Updated
I noticed a bull flag continuation pattern and Fibonacci Retracement level at 50%. For risky traders, this may be a good time to go long. For risk-averse traders look for long body candles to break above resistance. If I see long wicks breakthrough resistance I won't enter the trade long. Of course, the stock may break below the current support level. At that point just abandon ship or see if new support level develope at 61.8% retracement.
From a fundamental perspective, this stock is undervalued by approximately $1 per share.
From a fundamental perspective, this stock is undervalued by approximately $1 per share.
Note
Well, it appears that the stock closed right on the 61.8% retracement level exactly. We'll see if that holds tomorrow and into next week.
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.