October 12 Chart of the Day - Instructure
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Instructure (INST) is an education technology company with a mission to elevate student success, amplify the power of teaching, and inspire everyone to learn together.
With only a few years of data since going public the chart has moved in a very technically correct manner with respect to price action technical analysis.
Since January 2023 price has been rangebound making six trips between roughly $23 and $28.50 with a mid point of about $26.
But on the weekly chart we can see a wedge forming for a potential breakout. Whichever way price decides to break out its logical target would be either the upper or lower level of the defined range.
At some point the range may break. With that in mind we've identified potential levels of interest both above and below the range using Fibonacci levels.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
Take a look at the charts and let us know what you think.
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