The latest technical analysis shows Story IP breaking out from a symmetrical triangle, potentially reaching $8.7. Trade volume supports this upward move.
Symmetrical Triangle Breakout
The chart depicts a symmetrical triangle with converging highs and lows, indicating an upward breakout. Price action confirms a bullish move as it surpasses the resistance line.
Price Action and Technical Indicators
Price has surpassed the triangle resistance. The moving averages (9-period crossing above 21-period) along with MACD indicate continued bullish trend.
Support, Resistance, and Future Outlook
The former resistance between $6.0 and $6.2 may now act as support, with expected resistance at $7.0 and $7.5. Targets are set at $8.7 with sustained breakout.
Story IP shows strength post-triangle breakout, potentially attracting traders with its confirmed bullish trend, setting new price targets.
