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TY1!: Bullish flag pattern
Apologies if I have been focusing too much on the bigger macro picture but I am too busy with some projects to do individual stock screening. Nevertheless, if you have been following my posts, you would know I am of the view that we are in the midst of a major inflection point (check out the Preponderance of Evidence series and DM me for full written report if interested) so it is more important to get the big picture right.
Essentially, the TY1! has:-
#1 bounced off a key long-term support from 1999,
#2 had a golden cross (50-dma vs. 200-dma or 100-dma vs. 200-dma)
#3 been consolidating in a bullish flag which happens to be a continuation pattern.
I am using a version of Daryl Guppy Multiple Moving Averages ('MMA') to complement the bullish continuation flag pattern; The MMA utilizes 2 group of moving averages, 1 fast, 1 slow, to track trend changes as well as trend strength. In the TY1! case, the MMA long-term moving averages are not showing any signs of compression which suggest the up trend is intact.
Indicative ABCD upside potential is for a move up to $126.20.
Essentially, the TY1! has:-
#1 bounced off a key long-term support from 1999,
#2 had a golden cross (50-dma vs. 200-dma or 100-dma vs. 200-dma)
#3 been consolidating in a bullish flag which happens to be a continuation pattern.
I am using a version of Daryl Guppy Multiple Moving Averages ('MMA') to complement the bullish continuation flag pattern; The MMA utilizes 2 group of moving averages, 1 fast, 1 slow, to track trend changes as well as trend strength. In the TY1! case, the MMA long-term moving averages are not showing any signs of compression which suggest the up trend is intact.
Indicative ABCD upside potential is for a move up to $126.20.
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