1️⃣ Falling Wedge Pattern (Bullish)
A falling wedge is formed when:
Price is making lower highs
Price is making lower lows
The slope of the lower trendline is sharper than the upper line
Exactly what your chart shows.
This pattern normally breaks to the upside.
INJ is currently near the upper trendline, trying to break.
2️⃣ Current Price Position
Current price: $6.16 – $6.20
This is important because:
✔ Price is touching the upper wedge resistance
✔ A breakout can trigger a sharp move up
If price gets rejected → it will fall back to the lower wedge line ($5.30 – $5.50).
3️⃣ Key Levels
🔻 Support Levels
$5.50 – $5.60 (Lower wedge support)
$5.00 (Major support — strong buyers here)
🔺 Resistance Levels
$6.80 – $7.00 (First resistance after breakout)
$7.80 – $8.00 (Major resistance zone)
$9.20 – $9.50 (If wedge breakout confirmed)
4️⃣ RSI
RSI near 63
→ Not overbought
→ Enough room for an upside breakout
5️⃣ Volume
Volume is still low
→ Breakout needs strong green volume to confirm
→ If volume stays low, price may fakeout then fall back inside wedge
6️⃣ Possible Scenarios
📈 Bullish Scenario (Most Likely)
If price breaks above $6.30 – $6.40 with volume:
👉 Target 1: $6.80
👉 Target 2: $7.50 – $7.80
👉 Target 3: $9.00 – $9.50 (Wedge breakout full target)
📉 Bearish Scenario (If Rejected)
If price rejects from $6.30–$6.40:
👉 Pullback to $5.60
👉 Worst-case: $5.00
