believe it or not, there's more pain for air canada holders

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.
this updated line chart shows the pattern more clearly


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.
+2 Reply
r3anand 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.
+1 Reply
ScotianBot 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.
+1 Reply
Oh boy, another bear going to the poor house
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r3anand 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
JimJJ 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.
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r3anand 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
+2 Reply
@r3anand, I totally agree to accept being wrong; as long as we are able receive insight to what went wrong in our analysis.
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