Buy Signal: Entry: $31.00–$31.20 Stop Loss: $30.50 Target: $33.00–$33.15 Risk-Reward: Favorable (~4:1 ratio). Monitor for a breakout above $31.20, and ensure the momentum indicator stays positive for confirmation. If the price fails to hold above $31, reassess the setup.
Signal Analysis: Support & Resistance:
The price has found a strong support zone around $30.50–$31.00. Resistance is evident near $33.00–$33.15, which aligns with the previous high. Volume Profile:
High volume nodes (yellow bars) near $31 suggest strong interest and support at this level. The low volume zones above $31.50–$32.50 indicate that price could move quickly if it breaks resistance. Momentum (Squeeze Momentum Indicator):
The histogram is transitioning from negative to positive (red to green), signaling potential bullish momentum. Projected Move:
The chart suggests a target price of $33.15, with a potential 6.93% gain over ~12 days if bullish momentum sustains.