Support around the yellow horizontal line is being tested multiple times, making it critical.
If price breaks above the pink descending trendline, especially with volume, it could signal a trend reversal or bullish continuation.
A breakout above the pink descending trendline with solid volume (look for a strong green candle closing above the trendline).
Confirm with:
Volume spike
9 EMA (yellow) crossing above 21 EMA (red)
Price holding above horizontal resistance (~same yellow line as current upper range)
๐ Entry Zone:
Approx. just above the recent lower highs (watch that pink trendline area)
๐ฏ Target Zones:
First target: The recent high range (top of the sideways range)
Second target: The peak of the prior rally (around the December highs)
Third target (stretch): Measure the previous move (flagpole) and apply it from the breakout point
๐ Stop Loss:
Just below the most recent swing low (under horizontal support)
