Falling wedges can be bullish if a stock breaks up and out of the wedge.
I think SO had an earnings miss as well
Rising wedges are almost always bearish and are caused by irrational exuberance..too much buying without healthy pull backs. This all catches up with the stock eventually when no buyers are left...ie WDAY fell out of a rising wedge recently. Many more like KLAC. The stock usually recovers but beware that a stock can fall the entire width of the rising wedge, or it may just take a quick dip out and recover with ease. It depends on the stock
"The only man who makes no mistakes is the man who never does anything. Do not be afraid to make mistakes, providing you do not make the same one twice.”
Not a recommendation
I think SO had an earnings miss as well
Rising wedges are almost always bearish and are caused by irrational exuberance..too much buying without healthy pull backs. This all catches up with the stock eventually when no buyers are left...ie WDAY fell out of a rising wedge recently. Many more like KLAC. The stock usually recovers but beware that a stock can fall the entire width of the rising wedge, or it may just take a quick dip out and recover with ease. It depends on the stock
"The only man who makes no mistakes is the man who never does anything. Do not be afraid to make mistakes, providing you do not make the same one twice.”
Not a recommendation
Comment:
55.10 would clear the falling wedge upper trendline. a clear uptrend needs to be in place
Comment:
Has broken up from FW