Name: believe it or not, there's more pain for air canada holders
Uploaded: 2020-09-29T17:12:07.889589
Channel: r3anand
Description: A bearish pennant has been forming last few months since the March crash. This has just broken down which has opened up downside risk for the bulls.

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Trend Analysis Chart Patterns Beyond Technical Analysis Bearish Patterns patterns breakout swingtrading bigmove crash canada airline

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trendanalysis chartpattern beyondta bearish patterns breakout swingtrading bigmove crash canada airline

A bearish pennant has been forming last few months since the March crash. This has just broken down which has opened up downside risk for the bulls.

Comment:

this updated line chart shows the pattern more clearly

Comments

This did not age well, lol.

I saw a similar pattern on my chart, I am just glad I didn't take the bait, saved by the FED.

ScotianBot

@ScotianBot, haha yes didnt play out as expected. I actually didn't even take the trade but just posted as its quite a popular stock.

r3anand

@r3anand, they need to make a new T.V show called saved by the FED, starring short-sellers who get roasted by the FED saving bankrupt companies, lmao.

Oh boy, another bear going to the poor house

JimJJ

@JimJJ, i actually didnt take the trade so not too concerned ! was just sharing the idea as its retail favorite ... LOL but I still wouldn't be a buyer at these levels. I'm waiting for 9-10 level in the next crash

r3anand

@r3anand, put your money where your mouth is bud.

I know that to begin understanding how to analyze graphs is to listen to people who do it often. I envy your ability to analyze a stock graph; I have a long way to go.

BaconWizard

@BaconWizard, thanks man ! But the most important thing I learned over the years is to accept being wrong ! Technical analysis isn't a 100% guarantee

r3anand

@r3anand, I totally agree to accept being wrong; as long as we are able receive insight to what went wrong in our analysis.