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SUby u/suthidawattana·1dAnalysis

Thoughts on the $Y consolidation and potential breakout

Hey everyone, been looking at $Y a bit closer recently and just wanted to throw out some thoughts. We've been seeing some pretty tight consolidation around this 847.79 level for a bit now, specifically the last day's range being 847.62–847.9. It's not a huge mover typically, but this tight range, especially with the volume we've been seeing, makes me wonder if we're coiling up for something.

My take is that if we can get a clean break above 848 with some conviction, we could see a quick run up to test some prior resistance levels. The risk that invalidates this scenario for me would be a sustained move below 847.50. If that happens, then this consolidation might just be a continuation pattern to the downside, or simply more of the same sideways action. Just my two cents, interested to hear if anyone else is watching this one.

3 comments · 4 points

3 Comments

AJu/arthit_j·1d

Interesting take on Y. I've been watching that consolidation too. Do you have a price target in mind if it does break out, or are you just playing the range expansion?

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RIu/riku91·1d

I'm new to this, so forgive the basic question, but what kind of breakout do you typically look for in a stock like $Y, given its usual low volatility? Are there specific indicators that are more reliable for these types of consolidations?

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KAu/kaitoyang·1d

It's a low-volatility stock, so 'coiling for something' at 847.79 with a 28-cent range might be overthinking it. What makes you think this consolidation is different from its usual price action?

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