SE- Watching For a Breakout
Updated
SE has seemingly found a bottom here as buyers step in. SE is currently sitting right on a big RSI-Based supply level after reclaiming its 20-day EMA. Will be watching SE closely for a breakout here as it has also formed a bullish ABCD harmonic pattern formed on the daily timeframe (Not Pictured). Additionally, SE is holding quite a large falling wedge on the Weekly Timeframe along with some bullish hidden divergence on the RSI and a Bullish Gartley harmonic pattern (See Attached Chart Below). Bollinger bands are squeezing as well on the 4-Hour timeframe accompanied by more bullish hidden divergence. Bullish & will be watching closely for a breakout if buyers continue to step in (broader market conditions permitting)- Just some FIB levels along with some RSI-based supply and demand zones to keep an eye on in the meantime-
- Falling Wedge on the Weekly Timeframe
- Bullish Gartley Harmonic Pattern on the Weekly Timeframe
- Bullish ABCD Harmonic Pattern formed on both the Daily and 4-Hour Timeframes
- Bollinger Bands Squeezing on the 4-Hour Timeframe
- Reclaimed the 20-day EMA
- Buyer Volume Picking up relative to seller volume
PT1- $128.57
PT2- $130.62
PT3- $132.74
PT4- $134.86+
--Weekly Timeframe--
https://www.tradingview.com/i/g52LoXq6/
--4-Hour Timeframe--
- Falling Wedge on the Weekly Timeframe
- Bullish Gartley Harmonic Pattern on the Weekly Timeframe
- Bullish ABCD Harmonic Pattern formed on both the Daily and 4-Hour Timeframes
- Bollinger Bands Squeezing on the 4-Hour Timeframe
- Reclaimed the 20-day EMA
- Buyer Volume Picking up relative to seller volume
PT1- $128.57
PT2- $130.62
PT3- $132.74
PT4- $134.86+
--Weekly Timeframe--
https://www.tradingview.com/i/g52LoXq6/
--4-Hour Timeframe--
Trade active
4/14' 125/150 Call Spreads @ 5.75
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.