1. MACD Buy. 2. Retest support. 3. TP next resistance
Hey people, ITT INC is in a bullish combination with a return of buying volume traded in a hammer candle. By zooming in on the TIMEFRAME M1 we can notice a dash with a low volume of purchase traded it goes towards the top of the range (rectangle) for a retest. It is very plausible to breakout the price with the momentum and then at the same time the zone to access...
NYSE:ITT is forming a cup and handle chart pattern with a well defined resistance area around $65. That price level has been tested over 6 times including in today's session. A daily close above that resistance chart pattern boundary will trigger a long swing trade. Chart pattern price target is around $77 but profits (or partial profits) should be taken around...
Strong daily bar close above $65 will confirm the pattern breakout. Logical price target is around previous all time highs of $75.
AVERAGE ANALYSTS PRICE TARGET $68 AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT P/R RATIO 18 SHORT INTEREST 3%
Key points; 1) Price is currently at validated structure support (old resistance) 2) Price is at a potential up-trending support level 3) Last low was higher than the previous low even on a down market day 4) MACD level is at a similar level to previous lows made in price (illustrated by the vertical blue lines) 5) Price has also bounced off its lower bollinger...
Well, we have a bearish divergence in the RSI. But we managed to retrace ito the pitchfork. So I suppose that we can test at least the falling trendline again if not even the rising green fork line.