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Denis D
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$NEAR is approaching the activation of the Cup & Handle pattern.
If $NEAR surpasses the breakout level at 6.117 and this level successfully becomes the new support line (a price level where buying interest prevents further decline), the Cup & Handle pattern will be activated. Once confirmed, $NEAR has the potential to reach $11.00 - $11.50.
Recommended Actions:
1. Wait for a breakout: Ensure NEAR breaks above 6.117. After the breakout, it is common for the price to pull back slightly to test the new support level.
2. Confirm support at 6.117: If the level holds as support, you may consider entering a long (buy) position with the following setup:
Stop Loss: $5.95
Take Profit: $11.00
*** Pro Tip: As your position gains 5-10%, consider adjusting your Stop Loss to 2% below the 20-day moving average to secure profits while allowing for potential growth.
If $NEAR surpasses the breakout level at 6.117 and this level successfully becomes the new support line (a price level where buying interest prevents further decline), the Cup & Handle pattern will be activated. Once confirmed, $NEAR has the potential to reach $11.00 - $11.50.
Recommended Actions:
1. Wait for a breakout: Ensure NEAR breaks above 6.117. After the breakout, it is common for the price to pull back slightly to test the new support level.
2. Confirm support at 6.117: If the level holds as support, you may consider entering a long (buy) position with the following setup:
Stop Loss: $5.95
Take Profit: $11.00
*** Pro Tip: As your position gains 5-10%, consider adjusting your Stop Loss to 2% below the 20-day moving average to secure profits while allowing for potential growth.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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