On monthly time frame, channel bottom still hasn't been touched. Its bottom is around 340.
It may rebound from there. Till then, there can be a potential downside.
However, stock can reverse from here as well, just like on previous occasions in Feb 25' and May 25' where it didn't hit channel bottom in its entirety. Next target will be channel top of ~723.
This is my personal opinion and not a buy / sell call.
It may rebound from there. Till then, there can be a potential downside.
However, stock can reverse from here as well, just like on previous occasions in Feb 25' and May 25' where it didn't hit channel bottom in its entirety. Next target will be channel top of ~723.
This is my personal opinion and not a buy / sell call.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.