Let's dive into the details of WBA's 4h chart from Oct-2023
Oct-Dec 2023 Consolidation
From October to December 2023, WBA formed a regression channel on the 4h timeframe, which was a period of consolidation. The channel was marked by a support line drawn on the 1d timeframe, which acted as a resistance line on the 4h chart.
Dec 2023 Breakout
On December 2023, WBA broke out of the regression channel, reaching a high of 27 USD. This breakout was supported by the resistance line drawn on the 1d timeframe, which acted as a strong resistance line on the 4h chart.
Jan-Mar 2024 Consolidation
From January to March 2024, WBA formed a similar regression channel on the 4h timeframe. This channel was marked by a support line drawn on the 1d timeframe, which acted as a resistance line on the 4h chart.
Potential Breakout or Breakdown
Now, the similar regression channel formed from January to March 2024 is in a consolidation phase. We need to wait and watch to see if WBA will breakout or breakdown. If it breaks out, it could potentially reach new highs, while a breakdown could lead to a correction.
Conclusion
WBA's 4h chart from Oct-2023 on the NASDAQ shows a clear pattern of consolidation and breakout. The similar regression channel formed from Jan till Mar 2024 is in a consolidation phase, which could lead to a potential breakout or breakdown. Stay tuned and keep an eye on WBA's chart to see how the market reacts! 📈💡
From October to December 2023, WBA formed a regression channel on the 4h timeframe, which was a period of consolidation. The channel was marked by a support line drawn on the 1d timeframe, which acted as a resistance line on the 4h chart.
Dec 2023 Breakout
On December 2023, WBA broke out of the regression channel, reaching a high of 27 USD. This breakout was supported by the resistance line drawn on the 1d timeframe, which acted as a strong resistance line on the 4h chart.
Jan-Mar 2024 Consolidation
From January to March 2024, WBA formed a similar regression channel on the 4h timeframe. This channel was marked by a support line drawn on the 1d timeframe, which acted as a resistance line on the 4h chart.
Potential Breakout or Breakdown
Now, the similar regression channel formed from January to March 2024 is in a consolidation phase. We need to wait and watch to see if WBA will breakout or breakdown. If it breaks out, it could potentially reach new highs, while a breakdown could lead to a correction.
Conclusion
WBA's 4h chart from Oct-2023 on the NASDAQ shows a clear pattern of consolidation and breakout. The similar regression channel formed from Jan till Mar 2024 is in a consolidation phase, which could lead to a potential breakout or breakdown. Stay tuned and keep an eye on WBA's chart to see how the market reacts! 📈💡