How low will she go?
Other payment processors are following GPN down, but if I remember correctly, this one started plummeting first.
The top is ugly, and GPN has fallen to the 100% of the complicated multiple top pattern. You can get a guesstimate by drawing a trendline from the head to the neckline then projecting it downward. The neckline can be found by looking at the shoulders and where the leg up and then the leg down that form that peaks of the top. Often it is clear and is a level of support until broken. This one was not so clear and finding a neckline can be subjective.
Unfortunately, a bad, ugly top can go further than 100% and hit lower fib levels like the 1.27% etc. You can look for a point of confluence where price may gel and stop falling due to support at that level. It may be a gap, a long legged doji or a consolidation zone that you see to your left. When a security has fallen this much, sometimes it is easier to find a support zone on the weekly timeframe.
A bottom may form, or a zone of consolidation, but do beware as it can fall again. An inverse head and shoulders can be a good bottom, but these can fail as well during a strong downtrend.
Sometimes I use William's alligator which consists of short term moving averages and when it starts turning up, and the shorter moving average (5/red) starts crossing through the other 2 (8/white/ and 13/blue). William does not look good right now )o:
Oversold but oversold conditions can last for extended periods of time just as overbought levels can.
The longer term SMAs look terrible right now and price is under the 50, 100 and the 200 SMA. They are sloping down. Negative volume remains high. Short interest is 1.83%
No recommendation
Other payment processors are following GPN down, but if I remember correctly, this one started plummeting first.
The top is ugly, and GPN has fallen to the 100% of the complicated multiple top pattern. You can get a guesstimate by drawing a trendline from the head to the neckline then projecting it downward. The neckline can be found by looking at the shoulders and where the leg up and then the leg down that form that peaks of the top. Often it is clear and is a level of support until broken. This one was not so clear and finding a neckline can be subjective.
Unfortunately, a bad, ugly top can go further than 100% and hit lower fib levels like the 1.27% etc. You can look for a point of confluence where price may gel and stop falling due to support at that level. It may be a gap, a long legged doji or a consolidation zone that you see to your left. When a security has fallen this much, sometimes it is easier to find a support zone on the weekly timeframe.
A bottom may form, or a zone of consolidation, but do beware as it can fall again. An inverse head and shoulders can be a good bottom, but these can fail as well during a strong downtrend.
Sometimes I use William's alligator which consists of short term moving averages and when it starts turning up, and the shorter moving average (5/red) starts crossing through the other 2 (8/white/ and 13/blue). William does not look good right now )o:
Oversold but oversold conditions can last for extended periods of time just as overbought levels can.
The longer term SMAs look terrible right now and price is under the 50, 100 and the 200 SMA. They are sloping down. Negative volume remains high. Short interest is 1.83%
No recommendation
Comment:
Sellers will eventually exhaust and buyers will come in. At his point, it is possibly in the panic selling stage.