QIHU - Birds Eye View

117 3
After getting a good idea from my fellow chartist, thought to check up what i can get from QIHU. Does look like a HS on a Weekly view. It may indeed be a breakout of the recent two tops, but if there is a channel of the two bottoms, then its not quite out of the woods yet. Long term i wonder if it can make a IHS and move back up, given the stochastics andMACD are so depressed for a long time. It seemed to retrace to 0.382 Fib level twice on the path down, so going above that will add to the bullish turn case. There is also some sort of a divergence in CCI and RSI for the previous two bottoms, but there has been a rally off of that in the last 3 weeks already. Feels like 8-10 % still to go up.
Well done
the neck didnt not save QIHU
+1 Reply
2use jangseohee
Nope, and as much as it will be going down, it cant do it in a straight line. Meanwhile it did break the line from previous 2 tops ... so maybe some short upside potential. While in the red trend, its a bear
let see whether price got rejected tonight
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