So we have a really interesting double pattern, I think the short term is showing strength with a possible ascending triangle that may be bullish. We just came into what I am calling the COVID GAP as airlines dumped after news of the virus. Since the bottom of that tho, we have a rising wedge farther out that could quickly take back any gains from the bullish pattern. I will likely try to play options on both to try to collect highs and lows of each run, short term call- long term put if confirmed. Not to mention earnings around the corner makes it another unknown factor. Stay safe everyone!
Key:
Dotted Red: Rising Wedge formation
Yellow Solid: Ascending Triangle formation
Solid Red: Major Support
Covid GAP: Possible next leg up if it breaks the bearish pattern.
Key:
Dotted Red: Rising Wedge formation
Yellow Solid: Ascending Triangle formation
Solid Red: Major Support
Covid GAP: Possible next leg up if it breaks the bearish pattern.
