A really bad Bearish Shark Butterfly Pattern. I would estimate neutral or bearish in position off of point "D". Probably until mid-afternoon tomorrow, Friday 04/15/16. At best, $6.90 before uptrend reversal. At worst, continues uptrend from "C" into $7.70, which would be awesome if I had the balls to go deep and buy to enter into this position. Could be another day for a 25% mover. Very dangerous.
Point "C" is an expanding wedge, hence the uncertainty. Nevertheless it doesn't matter since my cash account cannot short this outlook and I will only be watching it at a distance.
I also forgot to mention that if you look closely at 04/14/16 @ $7.40 there appears to be a subtle Double Top, and the indicators before that shows the Stochastic RSI way above 15, 80.00 signaling perhaps a late bearish pullback.
Point "C" is an expanding wedge, hence the uncertainty. Nevertheless it doesn't matter since my cash account cannot short this outlook and I will only be watching it at a distance.
I also forgot to mention that if you look closely at 04/14/16 @ $7.40 there appears to be a subtle Double Top, and the indicators before that shows the Stochastic RSI way above 15, 80.00 signaling perhaps a late bearish pullback.
Comment:
So far so good. Tracking dashed blue arrow. $7.03