Well, the more I look, the more I see them. Bullish pennants and flags are showing their faces again, and they may be profitable if they confirm.
In this case, ASTR has bottomed in 2021 and been climbing steadily ever since.
Currently building into a bullish pennant pattern.
Why so bullish?
Pros:
1- Bullish Pennant forming
2- Post forming with volume
3- Descending volume during pennant forming
4- PPS above 50MA and 200MA
5- RS above 0, but a bit flat
6- R/R ratio above 5
7- 250RSI below 50
8- 50MA above 200MA
9- Both 50MA and 200MA ascending
Cons:
1- ATR a bit flat
2- Pattern not confirmed yet.
Target price is 10.68$ if this all goes to plan.
Again, stay humble, have fun, make money!
MAAX!
In this case, ASTR has bottomed in 2021 and been climbing steadily ever since.
Currently building into a bullish pennant pattern.
Why so bullish?
Pros:
1- Bullish Pennant forming
2- Post forming with volume
3- Descending volume during pennant forming
4- PPS above 50MA and 200MA
5- RS above 0, but a bit flat
6- R/R ratio above 5
7- 250RSI below 50
8- 50MA above 200MA
9- Both 50MA and 200MA ascending
Cons:
1- ATR a bit flat
2- Pattern not confirmed yet.
Target price is 10.68$ if this all goes to plan.
Again, stay humble, have fun, make money!
MAAX!
