Current data of FIL:
• Price: 5.09 USD
• Nearest resistance: 5.25 USD
• Nearest support: 5.00 USD
• Trend: Accumulating around the lower price range, but potential reversal if breaking through resistance or support.
1. Triple bottom pattern analysis (Triple Bottom)
Identifying the triple bottom pattern:
1. Three equal bottoms:
• The price has formed a strong support zone at around 5.00 USD, this could be the third bottom if the price does not drop deeper.
• Previous lows around the price of 5.00 USD also provide a foundation for the potential formation of the pattern.
2. Resistance located at 5.25 USD:
• If the price surpasses this zone, the probability of an increase will be very high.
3. Trading volume:
• Observe for a spike in volume as the price approaches the resistance zone.
Combining MACD and RSI:
• MACD:
• Currently, if the MACD histogram shows positive signs (turning from negative to positive), this is a potential bullish signal.
• If the MACD line crosses above the signal line, it will confirm the uptrend.
• RSI:
• RSI is in the neutral zone (40-50). If RSI rises above 50, this is a sign of buying strength returning.
Trading strategy:
• Buy: When the price breaks through the 5.25 USD resistance with high volume and MACD/RSI signals in agreement.
• Stop loss: Set below 5.00 USD.
• Take profit: Price target 5.50-5.75 USD, or measure the height from the low to the resistance (about 0.25 USD).
2. Triple top pattern analysis (Triple Top)
Identifying the triple top pattern:
1. Three equal peaks:
• If the price continually touches the 5.25 USD zone without breaking through, there is potential for a triple top pattern.
• The main support zone is at 5.00 USD.
2. Support break:
• When the price breaks below 5.00 USD, the triple top pattern will be completed, signaling a downtrend.
Combining MACD and RSI:
• MACD:
• If the MACD line crosses below the signal line and the histogram turns negative, it confirms the downtrend.
• RSI:
• RSI dropping below 40 will strengthen the bearish signal.
Trading strategy:
• Short selling: When the price breaks the support at 5.00 USD with increased volume.
• Stop loss: Set above 5.25 USD.
• Take profit: Price target 4.75 USD or lower (measure the height from peak to support, measure down below the break point).
3. Signals to watch for FIL
• MACD bullish divergence (Bullish Divergence):
• If the price creates an equal bottom at 5.00 USD but the MACD histogram creates a higher low, this is a strong bullish signal.
• RSI bullish divergence:
• If RSI rises while the price remains at 5.00 USD, this is a positive sign.
• MACD bearish divergence (Bearish Divergence):
• If the price approaches the 5.25 USD zone but the MACD creates a lower peak, this is a sign of decline.
In summary:
• If the FIL price breaks through the 5.25 USD zone with positive signals from MACD and RSI, this is a good buying opportunity with an upward price target.
• If the price breaks the support at 5.00 USD, combined with bearish divergence signals, consider short selling.
If you have a specific chart or real-time data, I can assist with more detailed analysis!
