I've been watching this thing bleed out for months now. The divergences have formed and it looks ready to break out from both wedges . The entire monthly chart is a giant wedge and the last 16 months have also formed a nice wedge too.
Wedges upon wedges with divergences means a reversal is likely near. Targeting a golden pocket fib extension at $12-13. The dividend is nice in the mean time and I'm happy to collect it. Hoping for an earnings catalyst to reverse this trend.
Credit to @ColdBloodedShill for selling me on it being bottomed out. I was going to wait for a more confirmed reversal, but the breakout from the smaller wedge makes me think it's time.
Wedges upon wedges with divergences means a reversal is likely near. Targeting a golden pocket fib extension at $12-13. The dividend is nice in the mean time and I'm happy to collect it. Hoping for an earnings catalyst to reverse this trend.
Credit to @ColdBloodedShill for selling me on it being bottomed out. I was going to wait for a more confirmed reversal, but the breakout from the smaller wedge makes me think it's time.
Comment:
The divergences don't show as well on the 2W chart.
Trade closed: stop reached:
Corona kind of messed everything up. Any chance this had evaporated.