GIven this nicely trending chart here for Canaan, I decided to take a deeper dive into its profit potential.
The best buy-in was around low 5 to high 4s. Our clue to bullish movement was the gap at around 6.10, 6.09 so that had to fill eventually. And, once the short term resistance line from the early January peek was broken on the 4th, we confirmed some more upward movement. That gap should fill Monday 2/8/21 or Tuesday 2/9/21.
After that, hold until low 7s as this thing tends to really pop on bullish signals as indicated by the last two runups. We could blow past it to the ATH at high 8s.
The best buy-in was around low 5 to high 4s. Our clue to bullish movement was the gap at around 6.10, 6.09 so that had to fill eventually. And, once the short term resistance line from the early January peek was broken on the 4th, we confirmed some more upward movement. That gap should fill Monday 2/8/21 or Tuesday 2/9/21.
After that, hold until low 7s as this thing tends to really pop on bullish signals as indicated by the last two runups. We could blow past it to the ATH at high 8s.
Comment:
VRAY has a very similar chart setup and running just the same.
Trade closed: target reached:
Sold at 7.90 which is right below a historical gap. Nice gain, excellent call