NCASH is consolidating in a range that is tightening and something is about to happen. Volatility should be coming.
Bull Scenarios:
1) Break of the pennant with solid volume leading to the first green box at the top. If it breaks through the top resistance it should reach that target quickly.
Target: Around 600sat
2) Cup & Handle could happen 2 ways. First a break of the pennant and then rejection at top resistance for a small retracement to the 0.382 fib and previous support and then rise back and retest the top all time high resistance again and break it with high volume. Second way would be slowly create the rest of the cup with no real volume or pennant breakout and then retrace and launch through the top resistance reaching the C&H target box. The target box for the C&H also has overlay with the pennant target box and also is the 1.618 extension of the cup to the neckline.
Target: Around 610sat
Bear Scenario:
1) Breaks down pennant with large volume and 1.618 extension which is also the measured move of the pennant.
Target: Around 470sat
2) Head and Shoulders is also forming within this pennant and a breakdown of the pennant with volume would validate the pattern. It would have the same 1.618 fib level and pennant target.
Target: Around 470sat
Bull Scenarios:
1) Break of the pennant with solid volume leading to the first green box at the top. If it breaks through the top resistance it should reach that target quickly.
Target: Around 600sat
2) Cup & Handle could happen 2 ways. First a break of the pennant and then rejection at top resistance for a small retracement to the 0.382 fib and previous support and then rise back and retest the top all time high resistance again and break it with high volume. Second way would be slowly create the rest of the cup with no real volume or pennant breakout and then retrace and launch through the top resistance reaching the C&H target box. The target box for the C&H also has overlay with the pennant target box and also is the 1.618 extension of the cup to the neckline.
Target: Around 610sat
Bear Scenario:
1) Breaks down pennant with large volume and 1.618 extension which is also the measured move of the pennant.
Target: Around 470sat
2) Head and Shoulders is also forming within this pennant and a breakdown of the pennant with volume would validate the pattern. It would have the same 1.618 fib level and pennant target.
Target: Around 470sat