NYSE:WOLF Wolfspeed is coming off of a downtrend with clear lower highs and lows, and has been in a decent consolidation with clear supply and demand zones.
I used Heiken Ashi candles on the daily and 4 hour charts to determine the supply and demand zones.
Looking for a zone to zone trade. 4/3/24 saw a Wells Fargo downgrade due to its association with Tesla....
On weekly charts - Looks like a falling wedge for almost 2 years, bouncing off the descending trend lines relatively accurately.
Earnings report drops next week. I predict a pullback to around 1.70, followed by a rocket up to 2. What would be key is if SPCE can break and hold above 2 to begin the launch sequence back up to 3, 4, 30, 40, eventually. Otherwise, if...
