ELSA has completed the Cup and Handle pattern. I use monthly timeframe to easier seeing the target.
However, even bigger cup and handle might be in sights in due time.
We just exited twist on senkou span on the daily chart, heading to the next critical zone 308-304 point, we are looking forward bounce, but if it breaks, it may continue to drop.
Successfully hit last support/key zone 304. ELSA retracing after key resistance point on 330, In this ranging market we expect to take profit partly on a key resistance point and buy at last key support point.
My bias is semi-neutral bullish.
Previously, ELSA shares experienced rejection in the support area of the 250 price range and then rose to the current price. The current price is likely to form a harmonic pattern, namely Bearish Bat with an increase to the price around 410 - 430. The current market condition is bullish.
#Disclaimer: Not a suggest to buy or sell
Strong support at 416
Strong resistane at 370
it's not my favorite but after rebound at ema 55 at least it will fly to 410
have a nice trading.
Disclaimer:
This information is for educational purposes and is not an investment recommendation or representative of professional expertise. This analysis used herein is for illustration purposes only. This personal...
AS we can see here in the chart, Elsa had a nice breakout to the upside and currently consolidating to absorb more power in order to continue moving up. AS for me, I am looking for a nice price to entry.
For Elsa also it has a possibility to have HIGH TIGHT FLAG pattern. look it up on google then compare it to ELSA Chart.
LetsGO
