I’m Kanisk Bora, the Founder and CEO of Capitallytics, A Financial IntelligenceSimplified
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The goal of this project is to secure a 10% profit on a long position in the NASDAQ market while minimizing risk through a 6% stop loss. Chart Analysis: The chart presents multiple timeframes, highlighting a potential bullish consolidation pattern within a defined price range. The following are key insights: Bollinger Bands show a steady squeeze, indicating potential breakout opportunities. The moving average convergence near the current price range suggests support around the $20223 level. Price action is consolidating near the upper resistance level of $20337, signaling a breakout possibility. Entry Point: A potential long entry near $20234, as shown in the 15-minute and 30-minute timeframes, is suggested by support at the current level and an expected upward move. Profit Target: The target price is $22337, aiming for a 10% gain based on the current position, calculated from the support and potential breakout areas. Stop Loss: A 6% stop loss is placed at $19020, beneath the major support level of $20153 visible on the 1-hour chart, which offers strong protection against a sharp market reversal.

Kanisk Bora

I’m Kanisk Bora, the Founder and CEO of Capitallytics, A Financial IntelligenceSimplified Track your portfolio, analyse