RSI is down to where it was at $10 PPS later April and she is looking to go higher :) No breakdown, as I have said time and time again technicals aren't everything but everyone believes they are... in fact technicals without momentum are absolutely nothing.
naa3e5
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Not sure that would qualify for a false breakout as it was over for a good duration of time, plus coupled with the current macro political situation and overall market decline were just happened to be timed together, IMO
TradingMula
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@naa3e5, If price breaks a resistance level and then falls back below it, then you can usually anticipate a failed breakout pattern. The true confirmation of my analysis can be seen after this weekly candle closes above or below 15.50
TradingMula
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@naa3e5, A good analyst anticipates moves based on not only technical formations but also fundamental macro environment... When the two line up you have a better chance of success. As I see it now, technicals are overbought, while fundamentals are at mercy of trade war sanctions. This is what leads me to believe we are seeing a failed break out.
naa3e5
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@youngmula, time will tell! Good luck on the short