intracom 4hChart Analysis - Intracom Holdings (CR)
The chart illustrates the following:
Double Bottom Formation: A clear double bottom pattern has been formed, with the price breaking above the neckline around €3.00. This breakout signals potential further upside.
Uptrend Confirmation: After breaking the neckline, the price has continued upward, reaching the resistance zone at €3.12. This movement aligns with the typical progression of a double bottom pattern.
Support and Resistance:
Support: The neckline area around €3.00 now acts as a strong support level.
Resistance: The price faces short-term resistance at €3.12. A breakout above this level could trigger additional upside momentum.
Outlook: As long as the €3.00 support holds and the €3.12 resistance is broken, the next target is projected around €3.25, with a potential final target at €3.50.
Technical Indicators:
The breakout is supported by positive momentum.
Trendlines indicate a continuation of the upward trend.
