Structure: Price broke out of a year-long falling-wedge and then punched through an ascending trend-line confluence at ≈ $17.00–$17.50.
Impulse Leg (Yellow): The vertical rally that followed is ≈ $3.75 tall. Projecting that height from the breakout pivot ($17.00) gives 100 % extension = $20.78.
Target Zone (Violet Box): $20.8 – $22.0 aligns with
100 % measured-move projection
Prior all-time swing high (~$20.5, Jan-2024)
A thin volume-profile “air pocket” between $19 and $22 (little resistance until the upper edge).
Next Level Up: 127.2 % fib extension sits at $24.15—that becomes the stretch target only if $22 is cleared decisively.
Impulse Leg (Yellow): The vertical rally that followed is ≈ $3.75 tall. Projecting that height from the breakout pivot ($17.00) gives 100 % extension = $20.78.
Target Zone (Violet Box): $20.8 – $22.0 aligns with
100 % measured-move projection
Prior all-time swing high (~$20.5, Jan-2024)
A thin volume-profile “air pocket” between $19 and $22 (little resistance until the upper edge).
Next Level Up: 127.2 % fib extension sits at $24.15—that becomes the stretch target only if $22 is cleared decisively.
VM
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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.