Disclaimer on,
This is a personal opinion, I am not responsible on your trading results.
Trade with your own risk.
ITMG
stock price movements showed strengthening on November 23, 2021, after previously experiencing a correction for approximately 5 weeks.
This reinforcement is characterized by several indications:
In weekly timeframes:
1. The price started to rise after touching the EMA 21 which is also consistent with the 0.618 Fibonacci Retracement ratio.
2. The stochastic indicator shows the movement of the golden cross.
In daily time frame:
1.After the price fell to touch the 90 EMA, a price reversal occurred.
2. A Descending Broadening Wedge pattern is formed.
For the price target that can be achieved is at the level of 30700, with the basis of the pattern AB=CD which coincides with the ratio of 1.618 Fibonacci Retracement.
This is a personal opinion, I am not responsible on your trading results.
Trade with your own risk.
ITMG
stock price movements showed strengthening on November 23, 2021, after previously experiencing a correction for approximately 5 weeks. This reinforcement is characterized by several indications:
In weekly timeframes:
1. The price started to rise after touching the EMA 21 which is also consistent with the 0.618 Fibonacci Retracement ratio.
2. The stochastic indicator shows the movement of the golden cross.
In daily time frame:
1.After the price fell to touch the 90 EMA, a price reversal occurred.
2. A Descending Broadening Wedge pattern is formed.
For the price target that can be achieved is at the level of 30700, with the basis of the pattern AB=CD which coincides with the ratio of 1.618 Fibonacci Retracement.