JAZZ/USD Long
JAZZ looks to be in bullish continuation here:On the 1D chart it looks like it wants to visit
$143/144
(potentially after a retest of the diagonal it
broke out from around $125)
Reasons:
-It had a strong breakout from a bullish pennant,
the target for this breakout would be the height
of the bull pennant's flagpole added to the point
where price broke out of the pennant
-Price may like to visit near the top diagonal of
the multi-year trend channel, adding conviction
to the target of the bull pennant
Bullish bias continued via Ichimoku:
-Kumo cloud is green
-Tenkan is above the Kijun while both
are above the kumo cloud
-Lagging span is well above the kumo cloud
Other Indicators:
-MACD seems to have just flipped bullish
-RSI not yet in overbought territory
-(not included in chart) price is not yet above
the top MA of the Bollinger Bands so still some
room for price to expand to target
Gap to be filled (in time) at $112.45
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.