EHEALTH is reaching to it's descending trend line.
General trend of the stock in currently declining and the market will hit to descending line soon at around 78.
Also as it is clear in the chart, price has been significantly reacted to pitchfork lines during its down going path and there is a nice overlap between descending trend line and pitchfork mid line at 78 USD.
In Addition, Stochastic indicator in daily time frame is in overbought zone and has already made a bearish reversal. Moreover a divergence at the top between stochastic indicator and price can be observed.
All the evidence supports the idea that EHEALTH will fall soon and in the case that upcoming earning report can not support the price and push the stock above the trend line the stock will see prices far below the last low which is 47.84.
General trend of the stock in currently declining and the market will hit to descending line soon at around 78.
Also as it is clear in the chart, price has been significantly reacted to pitchfork lines during its down going path and there is a nice overlap between descending trend line and pitchfork mid line at 78 USD.
In Addition, Stochastic indicator in daily time frame is in overbought zone and has already made a bearish reversal. Moreover a divergence at the top between stochastic indicator and price can be observed.
All the evidence supports the idea that EHEALTH will fall soon and in the case that upcoming earning report can not support the price and push the stock above the trend line the stock will see prices far below the last low which is 47.84.
Comment:
It exactly hit the predicted target at 78 USD and large decline started. Pitchfork and descending trend line alliance were really powerful !.
Comment:
We had a trade below the last low today as predicted several weeks ago.