DXCM 5 shades of grey;
First started in May 2020 when this area of around 107 continues tocomeback whether it be to consolidate, trend, or reverse 3 pivot points found, fast forward to the 2nd shade of grey when in February 2021 the stock came back as a double top.
The 3rd shade started a year after in January of 22 when we found 3 pivot points, one for stopping the selloff that started it, and continued until it broke back down, 5 pivots in October that same year, and now in 2024 once more.
What is the thesis of my explanation? 107 is a key area, and now it has a gap to cover as well as a pivotal moment 5 times accounting for 14 pivots, the most that have hit 107 and either continued to go up as a bullish stance or bearish.
Before the gap and the significance of 107, we have a couple of things to look out for in the short term, yes of course market makers, hedge funds, and other interest might bring the price down furthermore before they start to load up, so be very careful in following the latest in fundamentals, technicals, political, structure of the business in Q3, and how the analysts weren't all too bothered about when and not if it goes back up again.
To conclude technically every indicator has reset, momentum of bouncing is hot, price targets still coming in 5-10% higher and that's not even an average. 2020-2022 and now 7/26/2024 resistance 1; 69.00 Resistance 2; 75. Support 56.68
when will 107 come in to play again?
5 Shades of Grey 7/27/2024
First started in May 2020 when this area of around 107 continues tocomeback whether it be to consolidate, trend, or reverse 3 pivot points found, fast forward to the 2nd shade of grey when in February 2021 the stock came back as a double top.
The 3rd shade started a year after in January of 22 when we found 3 pivot points, one for stopping the selloff that started it, and continued until it broke back down, 5 pivots in October that same year, and now in 2024 once more.
What is the thesis of my explanation? 107 is a key area, and now it has a gap to cover as well as a pivotal moment 5 times accounting for 14 pivots, the most that have hit 107 and either continued to go up as a bullish stance or bearish.
Before the gap and the significance of 107, we have a couple of things to look out for in the short term, yes of course market makers, hedge funds, and other interest might bring the price down furthermore before they start to load up, so be very careful in following the latest in fundamentals, technicals, political, structure of the business in Q3, and how the analysts weren't all too bothered about when and not if it goes back up again.
To conclude technically every indicator has reset, momentum of bouncing is hot, price targets still coming in 5-10% higher and that's not even an average. 2020-2022 and now 7/26/2024 resistance 1; 69.00 Resistance 2; 75. Support 56.68
when will 107 come in to play again?
5 Shades of Grey 7/27/2024
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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.