A bullish cup and handle chart pattern is currently in play for $DFLI. It is easy to see on the 1/2 day (195min) timeline. Given this is a penny stock, I am allowing a cup and handle chart pattern on a timeline shorter than 1 day.
Importantly, the cup was initiated and preceded by a rise from a lower base. Currently, the handle is playing out with a low volume decline from the top of the cup. Minor further downside is possible before a swift and strong breakout through the $0.80 price point, with a profit taking target area of $1.30+. A downside break below $0.40 prior to breaking out above $0.80 would nullify the chart pattern.
These are my observations and thoughts alone and not meant as financial advice.
Importantly, the cup was initiated and preceded by a rise from a lower base. Currently, the handle is playing out with a low volume decline from the top of the cup. Minor further downside is possible before a swift and strong breakout through the $0.80 price point, with a profit taking target area of $1.30+. A downside break below $0.40 prior to breaking out above $0.80 would nullify the chart pattern.
These are my observations and thoughts alone and not meant as financial advice.
עסקה סגורה: היעד הושג
The cup & handle pattern was validated and has completed. Since the chart is completed and new price action is occurring, I will close this trade on TV, although my trade is still active. I will want to share another chart analysis in due time. My theory is that the stock is in an area this week where profit-taking selling and new short selling could be occurring and could possibly overpower any new buying, as retail hype last week frothed into a blowoff top on Friday. But at the same time, this possible scenario could be a welcome opportunity for new fresh retail buyers and institutional investors to make their entrance at a discount. Any green days, and definitely a green week, would be an enormously positive signal in my opinion, given that negative news was released yesterday about share dilution. If the stock shrugs off this negative news and continues to rise, then I see that as the market and some big players getting involved. All in all, last week clearly defined the line of least resistance for this stock.
I see strong support at $1.30 - $1.40. After the blow-off top on Friday, the price settled right on top of the Monthly VWAP at $1.32. Since late September and still now, it continues to be above the Monthly VWAP indicating longterm upward trend.
These are my observations and thoughts alone and not meant as financial advice.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.