Here's a free pattern analysis on the stock ABY requested by a reader of my recent post:
What Charts would you like to see a Cryptopattern analysis? Facebook? Gold? I'll post them FREE here!
Link: https://steemit.com/steem/@lbtyf/what-charts-would-you-like-to-see-a-cryptopattern-analysis-facebook-gold-i-ll-post-them-free-here
A couple of comments to go along with the chart--then see potential price targets based on this chart at the end of this post:
I chose the monthly chart because there were some clear high probability pattern signals to share. The monthly chart will do you little good if you are trying to day trade ABF - time frame is everything!
There are only probabilities that can be determined using patterns for stocks, cryptocurrency or anything else. There are absolutely NO CERTAINTIES including that I'm reading these patterns correctly!
If you are looking to buy and hold ABY, then studying the daily and weekly charts and seeing how they fit into the monthly pattern would be useful to determine a trading strategy.
Without the shorter time periods, the monthly chart patterns can only give you "big picture" possibilities YOU WOULD NEVER PLACE A TRADE BASED ONLY ON THIS INFORMATION!
With that said.....
POSSIBLE Price Targets for ABY based only on this monthly chart
Price is likely to move up near 24 in the near future, but upside is limited based on the indicators being very overbought. However, the downward trend in price has gone on for over a year so odds are good that after a pullpack to reset the indicators, price will move up to test a cross of the moving averages.
Got a chart you want analyzed for patterns to check against and confirm your research? Or point out some possible red flags? Or just to see if patterns can tell you the future? Just ask by replying in the comments!
NOTE: NOTHING IN MY POSTS IS INTENDED TO BE TRADING ADVICE. Please do not base your trades on any information presented in the materials on this blog as it is for information and entertainment purposes only. You are 100% responsible for your own trading decisions.