Due to sellers liquidating above average volumes, the stock has created an exhaustion gap while breaking below the rising wedge pattern. Currently, it is near the long-term ascending trendline. With bearish divergence on RSI , it is best to observe if buyers will be able to overpower the sellers to hold price above trendline support and 200-Day moving average.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
It has been holding on to the 200MA so far. What are your latest thoughts on this?
UnknownUnicorn33113667
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@VengadianLeviosa, price stabilizing above 200MA is a good sign, but I would like to see a higher low and higher high formation to be certain of an uptrend. If we do see price going up, 30MA will be where it will find resistance again.
What are your latest thoughts on this?