U - Strong break into all-time-high (ATH)
Although U has recovered quite significantly from it's low of $76 in May21, it's recent break into ATH on 10 Nov is quite signifant, backed by strong volume.
I am expecting that it will have some way to rise (with near term support @ 174). Any near term retracement towards $174 would be a good opportunity to long.
ATH stocks tend to run for longer as they aren't impeded by "prior resistence", athough retracements along the way up is still part and parcel of an uptrend.
Once can consider to set profit targets along fib extension 1.618 and 2.00 of the AB swing up, or set suitable trailing stops to see how far it could go.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade
I am expecting that it will have some way to rise (with near term support @ 174). Any near term retracement towards $174 would be a good opportunity to long.
ATH stocks tend to run for longer as they aren't impeded by "prior resistence", athough retracements along the way up is still part and parcel of an uptrend.
Once can consider to set profit targets along fib extension 1.618 and 2.00 of the AB swing up, or set suitable trailing stops to see how far it could go.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade
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