Historically, Cake has made significant upside moves after bouncing off the 100 EMA on the 4hr. So far, Cake has bounced off it. Also, Cake seems to be in a falling wedge, another bullish indicator. I expect a move past previous ATH ($44) really soon. And finally, a crossover of the MACD on the 4hr is also about to occur.
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4Hr Candle has wicked above the trend line, but still not a confirmation. I believe we will know in the next 8 hrs. Remember to put stop losses.
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Cake has broken out of the falling wedge. My profit targets are 44 and 50
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Ive updated this idea. See my profile.