Ethlend: Descending Wedge Formation - Potential 50% Increase

There is an indication that Ethlend is entering a reversal trend because of a descending wedge pattern formation. Here, there is a contracting range between the highs and lows of Ethlends reversal which is an indication that the downtrend is running out of steam. Furthermore, the support line of the descending wedge pattern is about to meet its resistance line within the next few days. If there is a break above the resistance line then there is a potential for a 50% increase in profits to meet near the top of the descending wedge pattern. Stop loss is below the support line indicated in red.