Chart Analysis and Interpretation


1. Target and Prices:


• A large “Cup and Handle” formation is seen on the chart. This formation generally indicates that the uptrend will continue.


• Target levels:


• First target: $108.80 at 1.618 Fibonacci level


• Second target: $165.50 at 2.618 Fibonacci level


• Final target: $221.50 at 3.618 Fibonacci level


2. Support and Resistance:


• Important support zone: $38 level (bottom of the cup).


• Main resistance zone: Horizontal resistance area at $52. If this zone is broken, the rise can be expected to accelerate.


3. Indicators:


• Volume: There is an increase in volume during the cup formation, which is a positive signal for confirmation of the formation.


• RSI (Relative Strength Index): If it is close to the overbought zone (70+), a correction may come before the resistance is broken. However, if the overbought zone is broken, a stronger rise can be expected.


4. Formations and Turns:


• Cup and Handle Formation:


• A permanent break above the $52 level is required for the formation to be completed.


• If this breakout occurs, a rapid movement towards target prices can be expected.


• If a pullback occurs, the $38 level could act as a strong support.


5. Trend Direction:


• A clear upward trend prevails in the medium and long term.


• A sustained close above the $52 level is critical for trend confirmation.


6. Strategy:


• Wait for Breakout: A daily or weekly close above the $52 level would be a safe signal to buy.


• Setting a Stop-Loss: If you enter, you can set a stop-loss below the $38 level.


• Gradual Purchase: Making gradual purchases towards target prices will be beneficial in terms of risk management.


• Fibonacci Tracking: Profit realization can be considered at every Fibonacci target.


7. General Comment:


• The chart has strong bullish potential.


• However, a correction risk in the resistance area should be taken into consideration. Support areas should be monitored during the correction.


• For long-term investment, waiting for the formation to complete would be a safer strategy.



As a result, this chart offers a positive signal for investors in the medium and long term. If the uptrend is confirmed, it seems possible to reach levels above $100. But do not forget to consider market conditions and risk management.