New ATH today. No resistance overhead to speak of.
Possible Bearish Butterfly.
If this is a Butterfly, the last leg ends at the 1,272. The upward retracement is strict on the Butterfly and it must hit the .786 or very close to it.
The retracement leg (AB) up one nailed the .786.
It is a crooked W. There is a bullish Butterfly as well.
Butterflies can be found anywhere in a chart, but most often found at tops or bottoms.
This may not be a Butterfly so I am watching this one closely. If so, it will turn down soon.
The 1.618 is up there as sometimes this pattern can overextend. It is an extension and a reversal pattern.
This is not a Crab (ends at 1.618 or further in some cases) because the Crab retraces on the AB leg between the .382 and the .618.
This is also a rectangle, a large one. Price has broken the upper trendline. Strong stock.
Targets for a break to the upside are above the Rectangle and targets for a break to the downside are below it.
Doing nothing can be a good strategy.
No recommendation
Possible Bearish Butterfly.
If this is a Butterfly, the last leg ends at the 1,272. The upward retracement is strict on the Butterfly and it must hit the .786 or very close to it.
The retracement leg (AB) up one nailed the .786.
It is a crooked W. There is a bullish Butterfly as well.
Butterflies can be found anywhere in a chart, but most often found at tops or bottoms.
This may not be a Butterfly so I am watching this one closely. If so, it will turn down soon.
The 1.618 is up there as sometimes this pattern can overextend. It is an extension and a reversal pattern.
This is not a Crab (ends at 1.618 or further in some cases) because the Crab retraces on the AB leg between the .382 and the .618.
This is also a rectangle, a large one. Price has broken the upper trendline. Strong stock.
Targets for a break to the upside are above the Rectangle and targets for a break to the downside are below it.
Doing nothing can be a good strategy.
No recommendation
Note
This seems like one of those stocks that could never go down!There are a lot of buyers in this security. There is a lot of supply versus demand in this stock.
When panic mode hits, it will maybe cave. Just be safe.
Sometimes it has nothing to do with how fantastic a company is. It can come down to which stocks have the most buyers inside that could possibly sell the carpet out from under your feet )o:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.