Short ENVX to $9
I have not entered yet but will be looking to do so.
There is a clear inverse cup & handle forming on the daily. The indicators [MacD & RSI] are rolling over.
Calculations:
-Neckline = $12.
-Implied PT to complete the structure: 15.48(03/31 high) - 12.00(neckline) = 3.48(height of the cup)
-12.00(neckline)-3.48(cup height) = $8.52 which is in line with a .236 retracement (8.62).
-Being more conservative and using the 03/31 closing price (14.91) instead of the high for the calculations, your PT is
12.00-2.91= $9.09.
- ~8.52-$9.09 just so happens to have been a trading range not long ago illustrated by the green lines
There is a clear inverse cup & handle forming on the daily. The indicators [MacD & RSI] are rolling over.
Calculations:
-Neckline = $12.
-Implied PT to complete the structure: 15.48(03/31 high) - 12.00(neckline) = 3.48(height of the cup)
-12.00(neckline)-3.48(cup height) = $8.52 which is in line with a .236 retracement (8.62).
-Being more conservative and using the 03/31 closing price (14.91) instead of the high for the calculations, your PT is
12.00-2.91= $9.09.
- ~8.52-$9.09 just so happens to have been a trading range not long ago illustrated by the green lines
Trade attivo
Should hit the neckline no later than Friday.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.