Stacks could be forming a bull flag. a technical chart pattern that indicates a potential continuation of an uptrend.
Bulls managed to bounce off the ~$1.25 zone, previously respected by both buyers and sellers.
Now in a tight spot, facing diagonal resistance, potentially being a key zone to break out of a bull flag.
When prices a tightly compressed, a breakout is often more powerful.
A successful breakout could test the March highs of the ~$3.7 zone.
Bulls managed to bounce off the ~$1.25 zone, previously respected by both buyers and sellers.
Now in a tight spot, facing diagonal resistance, potentially being a key zone to break out of a bull flag.
When prices a tightly compressed, a breakout is often more powerful.
A successful breakout could test the March highs of the ~$3.7 zone.
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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.