Gores Gugghenheim ( NASDAQ:GGPI ) has a very weak chart and in a falling wedge formation. In the near-term, if it starts to break below $10.25, it may quickly move to support below $10. This is a classic formation where bulls may get caught in a slow bleed as it move down the falling wedge.
If it breaks resistance in the near-term, bulls are likely to take over and the short-term bearish thesis is invalid.
If it breaks resistance in the near-term, bulls are likely to take over and the short-term bearish thesis is invalid.
Trade closed: stop reached:
❌ Broke through resistance