Failing to cross 'X' in order to remain in Channel 1 will force the stock to complete Channel 2. In this case sub 7.5k is expected. Line 'X' is your temporary bull-signal. Only if the 'daily' PSAR series is crossed, marked P1, you can truly call the stock bullish. On the downside, watch out for the lower PSAR series. Crossing P2 will confirm sub 7.2k levels.
I've also circled all the clear touch downs for each channel, so you can decide which of the channels you favor more. Note that these two possibilities could still be in the early stages of developing something much larger. We will be able to determine that once we get this out of the way. For the time being you can expect sub 7.9k to touch the lower b-band line (not depicted to keep a clean chart).
NOTE: on October 11th the stock created a higher high. This favors Channel 1 for a possible rerun of that high.
I've also circled all the clear touch downs for each channel, so you can decide which of the channels you favor more. Note that these two possibilities could still be in the early stages of developing something much larger. We will be able to determine that once we get this out of the way. For the time being you can expect sub 7.9k to touch the lower b-band line (not depicted to keep a clean chart).
NOTE: on October 11th the stock created a higher high. This favors Channel 1 for a possible rerun of that high.
Comment:
There you go
Trade closed: target reached