Enzyme (MLN), Pennant breakout

2024年4月7日

On the above daily chart price action has consolidated for approximately 20 days to form a pennant formation. A breakout occurred today. The pennant breakout occurs on past resistance, which now confirms as support.

The forecast is straightforward enough with the flagpole measuring a 60% move to the upside.
The target area is not to be confused with a market top.

Is it possible price action continues to correct further? Sure.
Is it probable? No

Ww

Type: trade
Risk: You decide
Timeframe for long: 24-48hrs
Return: 60%

2024年4月7日

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