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DmitriMA

3,978 Posts.

247

28/07/24

22:27

Post #: 74953571
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Originally posted by DmitriMA: ↑

Another way of looking at this is a breakdown from a Rising Wedge...

Downside target range indicated, coinciding with 100 day EMA
(roughly equivalent to 20 week EMA)

Expand

Originally posted by DmitriMA: ↑

Here's the 20 Week EMA doing its thing, since the Covid Crash...

If you view that as a kind of Cup & Handle formation,
suggests upside target around 5700.

Expand

I forgot about those posts from a few months ago, lol.
Both of those scenarios actually eventuated -
a pullback to the 20 week EMA (low of 4953)
followed by a further push up to a high around 5700
(5670 to be precise).
2 Upvote

0 Great analysis

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