Felt this pattern for Checkpoint warranted publishing, as rarely do you see a stock repeat such a symmetrical pattern. All trend lines are the same and the bars between highs and lows are nearly identical. If the pattern continues, CHPT will move lower to around the $6.50-$7.00 range before turning up. I would guess there is a good chance the move up could break the red trendline and continue up, given the macroeconomic climate and expected increase in electric car purchases in the future.
Also included a Scenario 2 (doubtful), which is purely based on the stock breaking the current trend line, but I expect to see a regression back to the trend line as we have seen in the past.
Also included a Scenario 2 (doubtful), which is purely based on the stock breaking the current trend line, but I expect to see a regression back to the trend line as we have seen in the past.
