Entry - $9.40 - $9.50
Target 1 - $8.90 (Recent trough could prove to be support)
Target 2 - $8.25 (Breakout point could prove to be support)
Stop Loss - $9.70
Double bottom formed May - September
Higher volume on first bottom
Lower volume on second bottom
Price action broke out on high volume and stopped right at the measured move for the double bottom forming the first top in our double top pattern.
High volume on first top
Low volume on second top
Also trend line resistance at the same point as the potential double top.
Price action will drop down to Target 1 and possibly make another run to break through the trend line
if not it may drop down to Target 2 which is the previous breakout zone
Target 1 - $8.90 (Recent trough could prove to be support)
Target 2 - $8.25 (Breakout point could prove to be support)
Stop Loss - $9.70
Double bottom formed May - September
Higher volume on first bottom
Lower volume on second bottom
Price action broke out on high volume and stopped right at the measured move for the double bottom forming the first top in our double top pattern.
High volume on first top
Low volume on second top
Also trend line resistance at the same point as the potential double top.
Price action will drop down to Target 1 and possibly make another run to break through the trend line
if not it may drop down to Target 2 which is the previous breakout zone