POPCAT targets $2.40 breakout soon

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

• POPCAT has now consolidated into a range just shy of its highs, between $1.63 and $2.00.
• If there is a breakout to the upside for POP, the target is likely in the mid $2's now following this longer consolidation period between $1.60 and $2.00.
• If we then look at the RSI, it's in the middle territory at 57, so nowhere near overbought. This is due to the fact we haven't had a parabolic move higher yet.
• Chart patterns/formations are messy. However, it does look as if POP is forming a bullish pennant. The breakout target would be $2.40.
• On the downside, we'd expect $1.60 to be the local support and $1.40 to be the major support if $1.60 is lost.

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