Hi tiko,
I have had a closer look at the "new" channel that I pencilled in on the log-scale chart:
The detail looks something like this:
Channel centreline estimates:
Start of July 2021: $8.00
Start of May 2022: $11.80
When I run the calcs on those eyeballed reference points, it looks like the centreline of the channel is increasing by about 4% per month i.e. a monthly compounding growth rate of about 4%.
Note: the channel bounds appear to be about +/-15% from this centreline.
Also Note: the calcs above don't align perfectly with the "forecast" shown on the earlier chart, since the scale of the x-axis is a bit skewed on that yahoofinance chart for some reason i.e. the "width" of each future month is supposed to show the number of trading days but it seems to often be overly stretched or compressed. Just a guide.
Now of course we don't know how solid this "new" channel is, or whether it will continue as indicated... only time will tell.
If so, it suggests circa $20 (centreline) by mid next year. I'd be happy with that!
None of this is advice, just my random thoughts and "analysis" based on what might be.
Hope it might be useful in some way to those trying to make sense of the madness
Cheers
IMO
DYOR!
