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WTF Chart of the Day: Ninja Breakout Above Weekly Resistance

By Lawrence  

As I mentioned last time, Ninja is bullish for a run higher.

Here is an update to the setup.

image

Green arrow marks the perfect retest of the quarterly STOPD level from 1st quarter high. This happens often when previous test was a false breakout.

As of today price has traded above red down trend line triggering a weekly level breakout to the upside.

Light green line is a copy of the green line projection to realign the projected time window to get to the target.

Light green target zone is the projected price target for this move.

Red zone should not be challenged again if this move higher is for real.

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