Long
$UKG Bullish Pennant Pattern and Fibonacci levels
Updated
Since the bottom, UKG has followed a move up through the classic Fibonacci levels and has resulted in a bullish pennant. If the technical analysis is correct on this chart, UKG has consolidated in this area because of the resistance at the next Fibonacci level but is expected to break through very soon because of the consolidation into a bullish pennant pattern. Additionally, volume has been steadily growing and remaining constant. If I am interpreting the TA correctly and the TA resolves as expected, then the next move up should happen by Friday, July 26, 8pm.
I'm posting this to test my hypothesis for my own learning when it comes to charts and as a follow up to the previous idea I posted called 'UKG Bottomed out.' This is not, in any form, financial advice.
I'm posting this to test my hypothesis for my own learning when it comes to charts and as a follow up to the previous idea I posted called 'UKG Bottomed out.' This is not, in any form, financial advice.
Note
So looks like I got the timing right for UGKBTC but I anticipated the pattern wrong, it was a bull flag and not a bull pennant.
Related publications
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.