Verge bulking up for new (300%) break out (technical analysis)
Verge is probably moving towards a new bull run and is in excellent buying rang right now.
Why?
1) Verge is moving in a perfect symmetrical triangle pattern on the daily
2) Although the MACD on the daily is still bearish, it is moving towards bullish on the 4h and is already in buying range on the hourly.
3) The CCI shows similar indicators with short(er) term bullish patterns
This trade will take a couple of days and will probably hit the resistance on the daily once more before really breaking out.
You're welcome in advance!
Why?
1) Verge is moving in a perfect symmetrical triangle pattern on the daily
2) Although the MACD on the daily is still bearish, it is moving towards bullish on the 4h and is already in buying range on the hourly.
3) The CCI shows similar indicators with short(er) term bullish patterns
This trade will take a couple of days and will probably hit the resistance on the daily once more before really breaking out.
You're welcome in advance!
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.