Buy Signal: Entry: $31.00–$31.20 Stop Loss: $30.50 Target: $33.00–$33.15 Risk-Reward: Favorable (~4:1 ratio). Monitor for a breakout above $31.20, and ensure the momentum indicator stays positive for confirmation. If the price fails to hold above $31, reassess the setup.
Signal Analysis: Support & Resistance:
The price has found a strong support zone around $30.50–$31.00. Resistance is evident near $33.00–$33.15, which aligns with the previous high. Volume Profile:
High volume nodes (yellow bars) near $31 suggest strong interest and support at this level. The low volume zones above $31.50–$32.50 indicate that price could move quickly if it breaks resistance. Momentum (Squeeze Momentum Indicator):
The histogram is transitioning from negative to positive (red to green), signaling potential bullish momentum. Projected Move:
The chart suggests a target price of $33.15, with a potential 6.93% gain over ~12 days if bullish momentum sustains.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.