Technical analysis by alemicihan about Symbol JASMY: Buy recommendation (12/5/2024)

Key Highlights:Cup and Handle Formation:The pink curve represents the "cup" part of the pattern, showing a rounded bottom structure. This formation is typically considered a strong signal for a continuation of an upward trend.Fibonacci Levels:The red, green, and white horizontal lines represent significant support and resistance levels. These lines resemble Fibonacci retracement levels and indicate where the price might encounter resistance or find support.Flag/Channel Pattern:The blue highlighted narrow channel illustrates a consolidation phase, suggesting preparation for a breakout to the upside.Target Levels:The blue arrow on the chart indicates an expectation for the price to rise to the 0.09026 level first and potentially continue to the 0.36202 level in a strong bullish move.The price is currently trading at 0.05321 and seems to have broken through a previous resistance level.If the price manages to overcome the resistance levels at 0.04258 and 0.09026, this could signal the continuation of the bullish trend.However, if the price loses the support levels at 0.02585 or 0.01726, there is a risk of entering a bearish trend.From a trading strategy perspective, it may be worth considering positions above resistance levels or entries near support levels while managing risk effectively.