Spotted this on the scanner today. After ranging between 3.20 and 3.35, 
OPEN broke out with solid volume and momentum, pushing up to a high of 3.70 for a clean intraday move of about 12 percent.
The setup included a clear Darvas box formation, a MACD crossover confirming momentum shift, and price action pushing above VWMA and key EMAs. Volume increased right as the breakout occurred, confirming buyer interest.
Support now sits around 3.47 at VWMA, and 3.35 as the top of the previous range. If price holds above 3.60, continuation into the 3.80 to 3.90 zone is on watch.
Strong breakout structure with clean technicals and follow-through. Worth keeping on the radar.
OPEN broke out with solid volume and momentum, pushing up to a high of 3.70 for a clean intraday move of about 12 percent.The setup included a clear Darvas box formation, a MACD crossover confirming momentum shift, and price action pushing above VWMA and key EMAs. Volume increased right as the breakout occurred, confirming buyer interest.
Support now sits around 3.47 at VWMA, and 3.35 as the top of the previous range. If price holds above 3.60, continuation into the 3.80 to 3.90 zone is on watch.
Strong breakout structure with clean technicals and follow-through. Worth keeping on the radar.
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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.