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Chartsrule

WBD hit some resistance and is ready for a breakout.Look at this chart of WBD on the Daily TF. On the right side of the chart you will see a purple box which marks a pivot point. Off of that pivot point, there is a Yellow resistance line, where price action was chopping along for some time. The price action then started creating lower highs and lower lows creating a downward sloping megaphone pattern. When you see this type of a pattern on towards the lows of the charts this becomes a bullish indicator. Where you see the yellow line meet with the top of the megaphone pattern is a circle where you can expect resistance. The resistance is due to the pivot point as well as the top of the megaphone. If WBD were to hit the target within a couple of days then it would still be valid for a couple day pull back. Now, if price action chops along the top of the blue line for 6 to 7 days the we can expect a breakout with a potential upside to the $17.00 range. What do you think will happen? Let me know in the comments. Cheers,
NASDAQ:WBDLong
by GarethSolowayOfficial
55

Select market data provided by ICE Data services. Select reference data provided by FactSet. Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView, Inc.

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