Earnings in late January but I see conflicting dates. Earnings outlook appears bleak from what I have read.
This pattern is neutral until broken.
Rising wedges on hourly and daily persist below price that could take this below 200. Rising wedges are not valid until broken so price would need to get down there to break the wedges. I did not draw them as my daily mission is not to draw rising wedges for hours today. What typically happens is a fall in price occurs that reaches the level of the wedge. This causes the over-supply caused be the rising wedge to kick in. Over supply meaning too many buyers. Buyers become sellers when they feel threatened. This happens when price is above a Rising Wedge. Sometimes price never breaks up and out of the pattern like MSFT and many more (CRM and TGT to name a few) managed to do during the market party after the Covid low.
This is my fave stock but I am waiting and I did get out with most of my skin intact several months ago. TG! No recommendation.
Sometimes it is best to look in the rear view mirror and then take a look down before looking up at the birds in the sky. Dangers like poisonous snakes are usually beneath us )o:
@Yachter, Good luck//long term this is going down but there will always be bounces up
Yachter
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@lauralea, fully and unconditionally agree, ma'am. So now the price partially took liquidity at 260..265, but then does the same first at 205, and in the worst-case scenario, finds support at 143…150, before the bounce.