Price is converging in a descending wedge. RSI is oversold on the daily. I'm looking for a few things:
Red candle close below 127.97 with bullish RSI divergence.
A fill of the gap from May 13 '21, which is also the all time low candle that started the last bull rally.
I think tech stocks will continue to go lower until the FOMC meeting and then a rally until earnings season.
I'll start to add positions next week if it hits 118 or the breakout with a back test occurs.
1st target price of 166.5
2nd TP is 178
Red candle close below 127.97 with bullish RSI divergence.
A fill of the gap from May 13 '21, which is also the all time low candle that started the last bull rally.
I think tech stocks will continue to go lower until the FOMC meeting and then a rally until earnings season.
I'll start to add positions next week if it hits 118 or the breakout with a back test occurs.
1st target price of 166.5
2nd TP is 178