I'm looking at cypher pattern playing out on NASDAQ, with first target $58.7 and second target $60.7. We have broken resistance at $54.5 and this looks pretty much on!
Comment:
Great start with earnings gap. Looking at fair value gaps, I think the first target was set a bit high, and should have been 58, which we already hit. Expect a pull back to
55
, and second leg up. Second target @ $61.
Comment:
We got support today at 54 area, so I think this idea is going per plan so far. Target $61.