AMERICAN EAGLE OUTFITTERS INC. - $AEO Bullish Diamond Bottom + Homing Pigeon, long signal - 05/06/2020 (GMT)

Daily chart is bullish. Bullish diamond bottom reversal pattern (more info: centralcharts.com/en/gm/1-l...). Also we got a homing pigeon which is a bullish candlestick. We also got a recent analyst upgrade to $10. I slapped the ask at 7.50. Now it became the bid after someone stepped in after me.PT: 8.82 first target as fib level and right under ichimoku cloud (not shown in chart). Expect resistance at 8.4 as a stop, but it's not as strong of a resistance as 8.82 since the cloud is part of the 8.82, not just horizontal resistance.
PT: 10+ after it gets through the cloud, as once it gets through 8.82 and closes strong above it into the cloud, can go up to 13.5 which is right before the range it started its downtrend.

Mental stop loss 7.21 (should be breaking above the diamond pattern, not below it if it's bullish).


Nice 30 min chart too. There's literally another diamond bottom pattern on it. I love pattern inception, diamond bottom on daily, diamond bottom on 30 min chart. Patterns on smaller timeframes, if breaking out, will cause long-term pattern to break out as well. There's also a nice cup and handle. Techs are lining up with RSI and MACD steadily increasing.Sorry it might be a bit hard to see because I have a lot of lines drawn