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green_brow
Nov 3, 2018 6:59 AM

PONY Can Go Either Way - Wait for the Break 

Description

Dumped hard from the top of the rising wedge I outlined in my last analysis. Has found some support at one of the previous key demand areas, which coincides with the 78.6% retrace. Looks to have formed a flag now, which can break either way. RSI is near oversold on the daily, but the 4h Stoch is forming a bearish cross. If I had to bet, I'd guess it's going to break down toward the lower support line, but its safer to wait and see how it plays out.
Comments
green_brow
Broke up and reject hard at the 200 SMA. Back into the flag, moving to the bottom. Time to see if the support will hold.
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