simple_don

Is this an ending diagonal in iRobot?

Short
simple_don Updated   
NASDAQ:IRBT   iRobot Corporation
3
the Pattern since late may is either a continuation flag (running wedge) or an ending diagonal.
I believe the latter has the higher probability.
IF my assessment is correct the stock value should capitulate to around 70 which equates with a 50% retrace.

Trade active:
malfunction... malfunction... iROBOT does not compute....

Classic ending diagonal breakout

watching for the dead cat bounce before selling again.
Comment:
Comment:
I have taken most of my position off now for a good profit.
My expectation from here is that downside momentum will slow the. Buyers will come back into the market. This will be a 'sucker' trade. It may retrace some of the decline when it dose I'll be looking for corrective price action and a lower high to short.

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