Bearish on Goodman Group $GMG (Descending Triangle)
Bearish on Goodman Group $GMG
The descending triangle is a bearish formation that usually forms during a downtrend as a continuation pattern.
Could we break the descending triangle (shorting opportunity) and retract back to the 200 MA?
Well, the more we test the support line, the more likely to break...
The MACD, RSI, and CMF are looking terrible.
20, 50 moving averages are trending down.
I'll be bullish again if the stock price can close above both the green and yellow line and I cannot see breaking easily.
The descending triangle is a bearish formation that usually forms during a downtrend as a continuation pattern.
Could we break the descending triangle (shorting opportunity) and retract back to the 200 MA?
Well, the more we test the support line, the more likely to break...
The MACD, RSI, and CMF are looking terrible.
20, 50 moving averages are trending down.
I'll be bullish again if the stock price can close above both the green and yellow line and I cannot see breaking easily.
Trade closed: target reached:
Did go down and reversal on TD sequential flip. Made a double bottom.
