This is an Adam an Eve formation the last week in the bull flag that formed also about a week ago.
The price target of an Adam and Eve formation is typically measured by the height of the formation, which is the distance between the lowest point of the second bottom and the highest point of the double top. This value is then added to the breakout price (the price at which the stock breaks above the neckline resistance level) to get the price target.
This the Adam and Eve formation has a height of $1800 and the breakout price is $35157, then the price target would be $36957.
However, it is important to note that price targets are just estimates and there is no guarantee that the stock will reach the price target. The stock may continue to rise above the price target or it may fall back below the breakout price.
Here are some factors that can affect the reliability of a price target based on an Adam and Eve formation:
Volume: The price target is more likely to be met if there is strong volume during the breakout.
Trend: The price target is more likely to be met if the stock is in an uptrend.
Market conditions: The price target is more likely to be met if the overall market is bullish.
Traders should always use risk management techniques when trading Adam and Eve formations or any other chart pattern. This includes placing stop-loss orders to limit losses and taking profits when appropriate.
That bull flag has a pole point bottom at $28150 on Oct 19th. The target of the bull flag is about $42000 in the weeks ahead.
The price target of an Adam and Eve formation is typically measured by the height of the formation, which is the distance between the lowest point of the second bottom and the highest point of the double top. This value is then added to the breakout price (the price at which the stock breaks above the neckline resistance level) to get the price target.
This the Adam and Eve formation has a height of $1800 and the breakout price is $35157, then the price target would be $36957.
However, it is important to note that price targets are just estimates and there is no guarantee that the stock will reach the price target. The stock may continue to rise above the price target or it may fall back below the breakout price.
Here are some factors that can affect the reliability of a price target based on an Adam and Eve formation:
Volume: The price target is more likely to be met if there is strong volume during the breakout.
Trend: The price target is more likely to be met if the stock is in an uptrend.
Market conditions: The price target is more likely to be met if the overall market is bullish.
Traders should always use risk management techniques when trading Adam and Eve formations or any other chart pattern. This includes placing stop-loss orders to limit losses and taking profits when appropriate.
That bull flag has a pole point bottom at $28150 on Oct 19th. The target of the bull flag is about $42000 in the weeks ahead.