The overall trend of Clams remains bullish as it continuously rejecting the uptrend trendline and printing higher highs and higher lows. Today clams broke above the 61.8% strong resistance, that is at $9.2, confirming the bullish momentum.
Now $9.2 becomes a support and uptrend could accelerate while the volatility is also growing. First upside target is seen at 127.2% Fibonacci applied to the last corrective wave down after Clams produced an all-time high at $13. Fibonacci target is located at $16 and should be watched closely for potential breakout or rejection. Break above should result in a more exponential growth, while rejection might result in a corrective wave down.
On a downside note, only a break and close below the 200 Moving Average would invalidate bullish outlook.
Now $9.2 becomes a support and uptrend could accelerate while the volatility is also growing. First upside target is seen at 127.2% Fibonacci applied to the last corrective wave down after Clams produced an all-time high at $13. Fibonacci target is located at $16 and should be watched closely for potential breakout or rejection. Break above should result in a more exponential growth, while rejection might result in a corrective wave down.
On a downside note, only a break and close below the 200 Moving Average would invalidate bullish outlook.
Comment:
at the support