Long after Fall from Rising wedge complete. This is not a huge rising wedge so fall will possibly be brief as it has dipped out of the bottom trendline. RWs are not valid unless the bottom trendline is broken. This pattern needs at least 3 weeks to form but can be a long term pattern. RWs interrupt supply and demand (there is too much supply) There will be a lack of touches to the bottom trendline. Both trendlines slope up and converge towards each other. Strong stocks do not fall down far as a rule and some stocks actually break up and out of a RW although price usually shows weakness a few weeks afterwards.
Possible stop below handle low or mid cup which is 77.65. Mid cup is close to handle low which also provides support at 78.82. If the handle low goes below mid cup, many consider the pattern invalidated.
The handle low is a horizontal congestion zone (HRZ) but sometimes it is not discernable as others.
Not a recommendation
Possible stop below handle low or mid cup which is 77.65. Mid cup is close to handle low which also provides support at 78.82. If the handle low goes below mid cup, many consider the pattern invalidated.
The handle low is a horizontal congestion zone (HRZ) but sometimes it is not discernable as others.
Not a recommendation
I own this (sold half when I saw the RW) and plan to buy that half again when fall is complete from the RW which may be near the HL, and when the candle battle chills out (o: