I might be off, but this looks like a Bear flag in a downtrend to me.
"..."Bear" flag in a downtrend. After a big rout, the flag seemingly presents a chance to re-group before continuing in the same direction (down.) Volume diminishes during the pause and then rapidly expands on the continuation..."(www.chartpatterns.co...andpennantcharts.htm)
"...The height of the flagpole may be subtracted from the breakout area at the end of the flag to determine the expected decline which follows. This is why the bear flag pattern is often found in the middle of stock declines..." (thestockbandit.com/bear-flag/)
Let me know in the comments what you think?
"..."Bear" flag in a downtrend. After a big rout, the flag seemingly presents a chance to re-group before continuing in the same direction (down.) Volume diminishes during the pause and then rapidly expands on the continuation..."(www.chartpatterns.co...andpennantcharts.htm)
"...The height of the flagpole may be subtracted from the breakout area at the end of the flag to determine the expected decline which follows. This is why the bear flag pattern is often found in the middle of stock declines..." (thestockbandit.com/bear-flag/)
Let me know in the comments what you think?
Comment:
The breakthrough happened a bit earlier than I expected but the trend is the same. It will bounce back from 10k.