CURLF Descending Broadening Wedge| Volume Influx| Technical High
Evening Traders,
Today’s Analysis – Curaleaf Holdings, Inc. – as swing trade into technical target as US voting season approaches.
- Macro broadening wedge
- Dynamic Resistance broken
- 200 MA support
- RSI bearish divergence
- Volume influx
- Back test long
CURLF has broken bullish from its macro descending wedge, initiating the pattern with a clear technical target. The break has put in a valid higher high, first sign of a probable trend change.
The Dynamic resistance was broken with conviction; a back test will be in confluence with the 21 MA and the .618 Fibonacci.
This will allow for a risk defined long entry
The 200 MA is holding as support, price will remain bullish as long as it trades above.
The RSI has a valid bearish divergence; this indicates a correction being probable to the .618, a clear trade location with technical confluences.
There is a clear volume influx coinciding with the break of the pattern, follow through is required for continuation.
Overall, in my opinion, CURLF has validated its macro pattern; a back test is a valid long entry with defined risk. On a fundamentally scale, this sector will be approaching voting, speculators are likely to be positon themselves for macro swings.
What are your thoughts?
“Win, loss whatever emerges in the short-term, place and manage your next trades untouched, unattached... always keeping your eyes on the long-term picture.” ― Yvan Byeajee
Today’s Analysis – Curaleaf Holdings, Inc. – as swing trade into technical target as US voting season approaches.
- Macro broadening wedge
- Dynamic Resistance broken
- 200 MA support
- RSI bearish divergence
- Volume influx
- Back test long
CURLF has broken bullish from its macro descending wedge, initiating the pattern with a clear technical target. The break has put in a valid higher high, first sign of a probable trend change.
The Dynamic resistance was broken with conviction; a back test will be in confluence with the 21 MA and the .618 Fibonacci.
This will allow for a risk defined long entry
The 200 MA is holding as support, price will remain bullish as long as it trades above.
The RSI has a valid bearish divergence; this indicates a correction being probable to the .618, a clear trade location with technical confluences.
There is a clear volume influx coinciding with the break of the pattern, follow through is required for continuation.
Overall, in my opinion, CURLF has validated its macro pattern; a back test is a valid long entry with defined risk. On a fundamentally scale, this sector will be approaching voting, speculators are likely to be positon themselves for macro swings.
What are your thoughts?
“Win, loss whatever emerges in the short-term, place and manage your next trades untouched, unattached... always keeping your eyes on the long-term picture.” ― Yvan Byeajee