Nu has been in a descending triangle formation since late February. It looks to be near the end of that formation, having fallen an amount equal to the triangle open.
Hopefully this allows it the space it needs to start a recovery.
Hopefully this allows it the space it needs to start a recovery.
Comment:
It bounced after the length of the triangle open, but has still struggled to escape its descending channel resistance. It needs to push through .60 to start a a new ascending channel, or we will continue to see it repeat a slow descent pattern as it has the previous weeks.
