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Roundingbottom

#SNDL - Rounding bottom and huge H&S in Weekly TFAfter sharing my vision of SNDL in the short term, through an analysis of H1 chart, I would like to share my long term vision, using a weekly chart. After IPO in Aug 2019 (13$) there's been a lot of diluition of shares which brought the prices down to 0.2$. During this huge drop, the prices reacted on Jan 2020, reaching 3.9$ and creating the left shoulder. After that prices dropped again reaching the bottom and they reacted again in Feb 2021, re-testing again the neckline that was created one year before. In my opinion the price is now forming the right shoulder before attacking again the neckline for the third time, completing the H&S formation. This might take 1-2 years the latest - in my opinion - and once prices are there we could see a strong brekut of the neckline pushing the prices up to the 0.382 Fibo level and 0.5 Fibo Level a 6.69$. Moreover, from the chart is pretty visible how the price is forming a reversal bottom which gives us a strong indication that buyers want to take this out from this stagnant price levels. So this title will not payback immediately and we need to patient.
NASDAQ:SNDLLong
by FrancescoMerlettini
2
MCDOWELL - Great Risk to Reward Opportunity - Swing TradeThe above analysis is done purely on basis of Price Action & Chart Patterns. The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets. Trade set up along with the logic has been explained in image itself. The above analysis is purely for educational purpose. Traders must do their own study before entering into any trade. Traders must trade as per their own risk taking capacity and money management. Feel Free to comment or message me for any query or suggestion regarding this stock or Price Action Analysis. Checkout my other ideas on similar concept, linked below, to understand how one can earn from stock markets with simple trade setups.
NSE:UNITDSPRLong
by AdityaKarn90
TSLA: These patterns could trigger a Reversal!Hello traders and investors! Let’s see how Tesla is doing today! First, in the 1h chart, we see something that could look like a Round Bottom , which is a pattern that I don’t like to trade. It seems we never know we are doing a Round Bottom for sure, until the pattern is almost done. Either way, the $ 645 was the Key Point , as we discussed in our last study (link below). Now that Tesla is trading above it, we may see a pullback to this level again, which is quite close to the 21 ema as well. This movement would be natural and wouldn’t ruin the bullish bias seen here in the 1h chart. Now, let’s see the daily chart: Ok, Tesla didn’t trigger the Piercing Line pattern we discussed last week. But today it triggered yesterday’s Bullish Engulfing , which is a good buy sign. The volume seems to be increasing again, but there’s one problem. The 21 ema is here to offer a resistance. But if everything moves according to this Multi Time Frame Analysis ( MTFA ), the 21 ema in the daily chart could be the perfect excuse to TSLA drop to the support level we mentioned above, in the 1h chart. This could create a complete bullish structure and make TSLA reverse the bearish bias. Let’s see how TSLA will behave now, and if you like this analysis, remember to follow me to keep in touch with daily studies! And remember to support this idea with your like before you leave! Thank you very much!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
5