REE Automotive Ltd to print 1500% extension?
On the above 15 day chart price action has corrected 99% since late 2021. A number of reasons now exist for a bullish outlook, they include:
1) Price action and RSI resistance breakouts.
2) Confirmation of support on past resistance.
3) For this stock the 6 day Gaussian channel is important (see below). Look left. What was once confirmed resistance is now confirmed support. Again, look left, significant moves in price action followed.
4) A breakout of $12 would with support confirmation would see price action leap to the next resistance at $160.
Is it possible price action continues to correct? Sure, sellers love to jump in after a 99% correction.
Is it probable? No.
Ww
Type: trade
Risk: You decide, very low market cap
Timeframe for long: January 2025
Return: 1200 to 1500%
Stop loss: Elsewhere
6 day Gaussian channel.
1) Price action and RSI resistance breakouts.
2) Confirmation of support on past resistance.
3) For this stock the 6 day Gaussian channel is important (see below). Look left. What was once confirmed resistance is now confirmed support. Again, look left, significant moves in price action followed.
4) A breakout of $12 would with support confirmation would see price action leap to the next resistance at $160.
Is it possible price action continues to correct? Sure, sellers love to jump in after a 99% correction.
Is it probable? No.
Ww
Type: trade
Risk: You decide, very low market cap
Timeframe for long: January 2025
Return: 1200 to 1500%
Stop loss: Elsewhere
6 day Gaussian channel.
Trade active
Fill your boots.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
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.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
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.