Timeframes Observed:
4-Hour Chart (Left):
The stock experienced a significant pullback after reaching a previous high of $543.
Current price action is consolidating within the highlighted yellow liquidity zone between approximately $328 and $390.
The Fibonacci retracement levels are clearly marked, with key levels at:
38.2% ($415): Indicates minor resistance.
50% ($439): A critical mid-level that could act as a pivot point.
61.8% ($463): A strong resistance zone if the stock retraces upwards.
The stock is hovering near the 23.6% retracement level ($383), which suggests buyers are defending this area.
10-Day Chart (Right):
The longer-term perspective shows a similar liquidity zone around $328 to $390, suggesting this area is critical for price stability and buyer accumulation.
The previous high ($543) is marked as a key resistance level, with expectations of a potential retest if the bullish momentum returns.
The Fibonacci extensions indicate upside targets, with a 1.618 extension at $667 and a 2.618 extension at $872, if bullish momentum sustains.
Key Insights:
Support Zones:
The stock is currently trading within a strong liquidity zone, which aligns with both timeframes, suggesting a solid base of support.
The $328 level is identified as a critical buy zone, as highlighted on the 10-day chart.
Resistance Levels:
The $383-$390 range (23.6% retracement) is being tested and could act as a pivot point for a potential upward move.
If momentum picks up, the next resistance levels to watch are $415 (38.2%), $439 (50%), and $463 (61.8%).
Market Behavior:
On the 4-hour chart, the stock is consolidating, showing potential signs of accumulation for a move higher.
On the 10-day chart, the stock is holding its bullish structure, indicating the recent pullback might be a healthy retracement within a larger upward trend.
Outlook:
Bullish Scenario: If the stock continues to build support in the current range and breaks above $390, it could target the higher Fibonacci levels, eventually leading to a retest of $543 and possibly new highs.
Bearish Scenario: If the stock fails to hold the liquidity zone around $328-$390, a deeper correction could occur, with further downside risks.
4-Hour Chart (Left):
The stock experienced a significant pullback after reaching a previous high of $543.
Current price action is consolidating within the highlighted yellow liquidity zone between approximately $328 and $390.
The Fibonacci retracement levels are clearly marked, with key levels at:
38.2% ($415): Indicates minor resistance.
50% ($439): A critical mid-level that could act as a pivot point.
61.8% ($463): A strong resistance zone if the stock retraces upwards.
The stock is hovering near the 23.6% retracement level ($383), which suggests buyers are defending this area.
10-Day Chart (Right):
The longer-term perspective shows a similar liquidity zone around $328 to $390, suggesting this area is critical for price stability and buyer accumulation.
The previous high ($543) is marked as a key resistance level, with expectations of a potential retest if the bullish momentum returns.
The Fibonacci extensions indicate upside targets, with a 1.618 extension at $667 and a 2.618 extension at $872, if bullish momentum sustains.
Key Insights:
Support Zones:
The stock is currently trading within a strong liquidity zone, which aligns with both timeframes, suggesting a solid base of support.
The $328 level is identified as a critical buy zone, as highlighted on the 10-day chart.
Resistance Levels:
The $383-$390 range (23.6% retracement) is being tested and could act as a pivot point for a potential upward move.
If momentum picks up, the next resistance levels to watch are $415 (38.2%), $439 (50%), and $463 (61.8%).
Market Behavior:
On the 4-hour chart, the stock is consolidating, showing potential signs of accumulation for a move higher.
On the 10-day chart, the stock is holding its bullish structure, indicating the recent pullback might be a healthy retracement within a larger upward trend.
Outlook:
Bullish Scenario: If the stock continues to build support in the current range and breaks above $390, it could target the higher Fibonacci levels, eventually leading to a retest of $543 and possibly new highs.
Bearish Scenario: If the stock fails to hold the liquidity zone around $328-$390, a deeper correction could occur, with further downside risks.
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.
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.