AI trade ideas
Inverse H&S Shoulder Pattern Based upon the volume profile, AI's stock has been in basing stage since March. An Inverse H&S has been forming since late March and the right shoulder is starting to form. According to standard technical analysis, it is only confirmed upon a break above the neckline however, the neckline is 13 points away.
I would much rather accumulate AI here considering if the pattern plays out my risk:reward is 1:5. Let me know what you think.
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$AI wave 3 setupI said I wasn't going to take anymore plays, but this one is literally gold.
Haven't seen a setup this clean in months!
I believe that AI has finished Wave 2, and is about to start a Wave 3 impulse.
Wave 3 target = $124
Wave 5 target = unknown (don't wanna look too far into the future)
AI Bullish Ascending TriangleAI looks to have formed an ascending triangle, it has also crossed through the 50 EMA (which can act as an area of support later), and has bullish MACD momentum as well on the daily chart.
Over the last month the stock has formed higher-lows, it looks to retest an area it failed to break, the $70 resistance level that has held for the past few months.
In order for this analysis to be valid the stock must break through the ascending triangle pattern and see a push upward.