Indigo potential long opportunity

21 Ağu 2021

INDIGO

Hello all!

There is a pole and flag pattern forming in Indigo. The stock has been consolidating inside the flag since November 2020.

I see a long opportunity here and there are two major reasons for that. The first being pure price action i.e the stock being at the bottom of the flag. The second being that the stock is taking support from its 50 week EMA.

The targets can be set at the top flag trendline and can be pushed further to the top of the upper channel if the stock breaks out. Also, the Reward to Risk ratio is decent.

Would love to hear your thoughts on this!!

HAPPY TRADING!!

*NOT A CALL*