Does $Now have further upside, or is it nearing a potential top?
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To project targets, I am using the following methods:
Cup and Handle Pattern If we consider the price range of $709.02 - $338.24 as forming a cup and handle pattern, the price movement represents approximately a 52% increase. Projecting this on the upside sets a target of around $1078.79, which was achieved last week. A weekly close above $1122.44 will signal a potential next target at $1316.16, derived from the 2.61% Fibonacci extension applied to the range of $709.02 - $338.24. Fibonacci Extensions Using Fibonacci extensions on the same price range, the 2.61% target aligns with $1316.16 as the next significant resistance level.
Key Levels: Support: The uptrend remains intact as long as $906 holds. Downside Risk: If $906 is breached, the next downside target is $709.02.
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