Siemens (SIEGn Stock) breaks above -27.2% Fib target and aims at $150
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Siemens AG stock is in a strong uptrend after bouncing at the 38.2-50% Fibonacci levels. A bullish bounce at the 21 ema zone could confirm another push higher.
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The Siemens daily chart is bullish. Let’s review the key price patterns and also potential targets.
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The strong impulsive price action is probably a wave 3 followed by a shallow wave 4. Therefore, the current upside is probably a wave 5 (orange).
Price charts and technical analysis
The Siemens daily chart is bullish. Let’s review the key price patterns and also potential targets:
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The uptrend has all the moving averages aligned for an uptrend. Price is above 21 ema zone, which is above 144 ema, 233 ema, and 610 ema.
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Price action made a bearish pullback after hitting the -27.2% Fibonacci target. But the bullish breakout above the resistance (orange dotted line) seems to confirm the uptrend continuation.
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As long as price action stays above the support trend line (green), price remains in bullish territory.
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The main targets of the upside are the Wizz 8 level and the -61.8% Fibonacci target zone.
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A bearish break below the support places the uptrend on hold (yellow) and a deeper pullback invalidates it (red circle).
On the 4 hour chart, the strong impulsive price action is probably a wave 3 (orange). The pullback has an ABC (blue) within wave 4 (orange). Therefore, the current upside is probably a wave 5 (orange):
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Within that wave 5, price is probably building numerous waves 1-2 (blue/green).
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The current pullback could be a wave 4 (green) because price action stayed above the top of wave 1.
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A break below the support (green box), however, would invalidate (red circle) the current wave outlook.
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A shallow pullback (orange arrow) could just be a simple pullback within the uptrend, if price action makes a bullish bounce (green arrow).
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A bullish breakout (green arrow) could indicate an immediate upside.
The analysis has been done with the ecs.SWAT method and ebook.
-
Siemens AG stock is in a strong uptrend after bouncing at the 38.2-50% Fibonacci levels. A bullish bounce at the 21 ema zone could confirm another push higher.
-
The Siemens daily chart is bullish. Let’s review the key price patterns and also potential targets.
-
The strong impulsive price action is probably a wave 3 followed by a shallow wave 4. Therefore, the current upside is probably a wave 5 (orange).
Price charts and technical analysis
The Siemens daily chart is bullish. Let’s review the key price patterns and also potential targets:
-
The uptrend has all the moving averages aligned for an uptrend. Price is above 21 ema zone, which is above 144 ema, 233 ema, and 610 ema.
-
Price action made a bearish pullback after hitting the -27.2% Fibonacci target. But the bullish breakout above the resistance (orange dotted line) seems to confirm the uptrend continuation.
-
As long as price action stays above the support trend line (green), price remains in bullish territory.
-
The main targets of the upside are the Wizz 8 level and the -61.8% Fibonacci target zone.
-
A bearish break below the support places the uptrend on hold (yellow) and a deeper pullback invalidates it (red circle).
On the 4 hour chart, the strong impulsive price action is probably a wave 3 (orange). The pullback has an ABC (blue) within wave 4 (orange). Therefore, the current upside is probably a wave 5 (orange):
-
Within that wave 5, price is probably building numerous waves 1-2 (blue/green).
-
The current pullback could be a wave 4 (green) because price action stayed above the top of wave 1.
-
A break below the support (green box), however, would invalidate (red circle) the current wave outlook.
-
A shallow pullback (orange arrow) could just be a simple pullback within the uptrend, if price action makes a bullish bounce (green arrow).
-
A bullish breakout (green arrow) could indicate an immediate upside.
The analysis has been done with the ecs.SWAT method and ebook.
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