BERG (1-Week Timeframe)
- *Accumulation and Breakout*: BERG was in a downtrend from February 2017 to October 2018, followed by a 6-year accumulation zone. The stock broke out of this zone with a powerful move and huge volumes (around 4 times more than average).
Current Situation:
- *Pullback and Bull Flag*: After the breakout, the stock retested the breakout level in a pullback channel, forming a bull flag pattern. The price has broken out of this bull flag, indicating an upside move is expected in the coming days/weeks.
Expected Move:
- *Upside Potential*: Given the long duration of accumulation, we expect an equivalent move upwards, potentially increasing the stock price by more than 80%.
🚨 TECHNICAL BUY CALL – BERG🚨
- *Buy 1*: 107.40 (current level)
- *Buy 2*: 100
- *Buy 3*: 88
- *TP1*: 129
- *TP2*: 151
- *TP3*: 176
- *TP4*: 201
- *Stop Loss*: Below 72 Day Closing Basis
Risk to Reward is 1:4
Caution: Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
- *Accumulation and Breakout*: BERG was in a downtrend from February 2017 to October 2018, followed by a 6-year accumulation zone. The stock broke out of this zone with a powerful move and huge volumes (around 4 times more than average).
Current Situation:
- *Pullback and Bull Flag*: After the breakout, the stock retested the breakout level in a pullback channel, forming a bull flag pattern. The price has broken out of this bull flag, indicating an upside move is expected in the coming days/weeks.
Expected Move:
- *Upside Potential*: Given the long duration of accumulation, we expect an equivalent move upwards, potentially increasing the stock price by more than 80%.
🚨 TECHNICAL BUY CALL – BERG🚨
- *Buy 1*: 107.40 (current level)
- *Buy 2*: 100
- *Buy 3*: 88
- *TP1*: 129
- *TP2*: 151
- *TP3*: 176
- *TP4*: 201
- *Stop Loss*: Below 72 Day Closing Basis
Risk to Reward is 1:4
Caution: Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.