Long
CYTX update: ASCENDING TRIANGLE within Weekly BULL FLAG
CYTX has formed an ASCENDING TRIANGLE pattern within a WEEKLY BULL FLAG pattern.
If it goes above above the last red-down- candle,
above 1.23, when a green candle appears on a daily,
then this presents itself as a good risk/reward opportunity.
A smaller time frame, as noted below, tells me to buy now.
On March 13 I already entered, and this is a second opportunity.
Other observations:
Notice the higher supports (higher lows)
and notice how the resistance is being squeezed up. This is called an ASCENDING TRIANGLE pattern, and it means that buyers are coming in on higher lows, like we probably are right now.
Entry Confirmation from a Multi-time Frame Viewpoint:
Smaller Time Frames (4-hour, 60 minute, 30 minute):
- smaller time frames have bullish candles and other indicators
suggest support and give a divergence confirmation to buy now.
I've already purchased this company with enough shares, so it makes no sense to buy more now.
Profit target is 2.05 if CYTX can get through 1.68 channel resistance.
If it goes above above the last red-down- candle,
above 1.23, when a green candle appears on a daily,
then this presents itself as a good risk/reward opportunity.
A smaller time frame, as noted below, tells me to buy now.
On March 13 I already entered, and this is a second opportunity.
Other observations:
Notice the higher supports (higher lows)
and notice how the resistance is being squeezed up. This is called an ASCENDING TRIANGLE pattern, and it means that buyers are coming in on higher lows, like we probably are right now.
Entry Confirmation from a Multi-time Frame Viewpoint:
Smaller Time Frames (4-hour, 60 minute, 30 minute):
- smaller time frames have bullish candles and other indicators
suggest support and give a divergence confirmation to buy now.
I've already purchased this company with enough shares, so it makes no sense to buy more now.
Profit target is 2.05 if CYTX can get through 1.68 channel resistance.
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