The analyst is bullish on WYFI, expecting a higher high at $47 and a run to $58 based on technical analysis.
Price action breaking out, retesting, holding support at $30, channel breakout indicating a bullish trend with targets at $47 and $58 (Wave 3 target).
$WYFI is this the perfect example of price action breaking out, retesting, breaking out and moving in a bullish trend? The very basic understanding of Technical analysis would give you a high conviction here The hold of support on the wedge support line at $30, followed by the channel breakout means we would expect to see a higher high next to $47....followed by a run to our Wave 3 target at $58.
| Horizon | Raw move | vs SPY |
|---|---|---|
| 1 day | -0.9% | -1.3% |
| 1 week | -33.6% | -33.4% |
| 1 month | — | — |
| 3 months | — | — |
| 6 months | — | — |