TKO is poised for a major multi-year breakthrough!
Weekly Chart
Daily Chart
- The 100 level has shown to be a significant resistance point for the stock, as it faced multiple rejections at this level.
- Following these rejections, the stock entered a significant consolidation phase, which led to the formation of a Symmetrical Triangle pattern.
- After breaking out of this formation, the stock price soared, reaching a peak around the 117 level before experiencing a decline.
- However, the stock found support at the 200 WEMA and rebounded from that level..
- At present, the stock is lingering near the resistance zone, and with an increase in trading volume, there is a strong expectation that it will achieve a breakout this time around.
- The appearance of an Inverted Head & Shoulders pattern on the weekly chart indicates a bullish sentiment.
Daily Chart
- The daily chart shows that after being rejected near the 117 level, the stock fell but then reversed by breaking above the double bottom pattern.
- Since then, the stock has maintained its upward trend and is now close to a major breakout.
- The rising volume indicates that the price is preparing for an upward move.
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