Bull Thesis -
1) The first thing I noted was the large up-trending channel
2) Currently a Bullish Pennant has formed inside the channel
- My main theory is a breakout of the wedge to the upside.
- I used a bottom fitted curve from the bull pennant "post/mast/flagpole" to give a general trend after the breakout. This is how I arrived at my price target noted on the chart. $155 around Sep 11th, 21'
Bear Thesis -
3) Volume on the upward price spikes has been dropping steadily ytd.
4) The bullish pennant has formed at the top range of the channel, and may be ready for a pull back.
5) If breakout of the wedge to the downside occurs, I used a similar curve from the flagpole to give my estimate on the chart when it nears the bottom of the channel. $134 around Sep 7th, 21'
1) The first thing I noted was the large up-trending channel
2) Currently a Bullish Pennant has formed inside the channel
- My main theory is a breakout of the wedge to the upside.
- I used a bottom fitted curve from the bull pennant "post/mast/flagpole" to give a general trend after the breakout. This is how I arrived at my price target noted on the chart. $155 around Sep 11th, 21'
Bear Thesis -
3) Volume on the upward price spikes has been dropping steadily ytd.
4) The bullish pennant has formed at the top range of the channel, and may be ready for a pull back.
5) If breakout of the wedge to the downside occurs, I used a similar curve from the flagpole to give my estimate on the chart when it nears the bottom of the channel. $134 around Sep 7th, 21'