With the dynamic break of the resistance at USD 11.50, the stock has created a potential of up to USD 25. It is currently trading at USD 16. Our main scenario still sees a rally to USD 25. This target can already be reached in Q1 2025. Brief setbacks do not change this view.
Only a drop below the trend channel line or the EMA 50 would bring a retest of the breakout level at USD 11.50 into focus.
Below USD 11.50, the bullish chart picture darkens significantly, and the bears could take the helm again.
Disclaimer:
The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. The Group of Companies of JFD, its affiliates, agents, directors, officers or employees are not liable for any damages that may be caused by individual comments or statements by JFD analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. Accordingly, you should seek, if you consider appropriate, relevant independent professional advice on the investment considered. The analyses and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyses and must therefore be viewed by the reader as marketing information. JFD prohibits the duplication or publication without explicit approval.
There are risks involved with trading of cash equities. Past performance is not indicative of future results. You should consider whether you can tolerate such losses before trading. Please read the full Risk Disclosure (https://www.jfdbrokers.com/en/legal/risk-disclosure).
Copyright 2024 JFD Group Ltd.