You can see that Solarcity has taken a pretty good beating from one of the high flyers 2 years ago. What we see right here is that we have a level that has to hold.
5-9-2016 low is the line in the sand that the bulls have to defend with all they got. Break of that and a test of the IPO low.
You now have your defined risk and need to see at least a higher low to give some additional confirmation that they may have stuck their fork in the ground to try to get some type of bottom.
Again a break of those lows that are marked out will give some sign that the bears have finished their onslaught.
Maximus
5-9-2016 low is the line in the sand that the bulls have to defend with all they got. Break of that and a test of the IPO low.
You now have your defined risk and need to see at least a higher low to give some additional confirmation that they may have stuck their fork in the ground to try to get some type of bottom.
Again a break of those lows that are marked out will give some sign that the bears have finished their onslaught.
Maximus