Neutral until correction complete
TNDM seems to have issues holding on to a high, but when it moves, it moves. I always thought if I could catch this one at a true bottom, I may buy it one day.
TNDM has been in a bearish, narrowing, rising wedge pattern since the market caught the flu. RWs can be very long term patterns, and have to be at least 3 weeks in formation to differentiate it from a flag or a pennant.
TNDM has been in several rising wedges since the bottom. This is the largest one
It differs from a triangle in that both trendlines slope in the same direction. UP. Price narrows at the apex. It is not valid unless bottom trendline is broken.
A strong stock falls an average of 35% according to Bulkowski, but every stock is different. It is possible that a stock cn fall to the beginning of the lower trendline like HRC did (see example in posts)
Rising wedges (RW) cause an imbalance in supply and demand due to lack of healthy pull backs. When it is time to pull back, there is a shortage of buyers, so BOOM! Everyone interested in buying, has already bought it I guess.
There is a lot of volume at 84.5ish. I will wait to be sure before entering.
Tndm broke from a cup and handle pattern earlier this year. Strong stock as a rule so perhaps will not fall too far
Good luck!
TNDM seems to have issues holding on to a high, but when it moves, it moves. I always thought if I could catch this one at a true bottom, I may buy it one day.
TNDM has been in a bearish, narrowing, rising wedge pattern since the market caught the flu. RWs can be very long term patterns, and have to be at least 3 weeks in formation to differentiate it from a flag or a pennant.
TNDM has been in several rising wedges since the bottom. This is the largest one
It differs from a triangle in that both trendlines slope in the same direction. UP. Price narrows at the apex. It is not valid unless bottom trendline is broken.
A strong stock falls an average of 35% according to Bulkowski, but every stock is different. It is possible that a stock cn fall to the beginning of the lower trendline like HRC did (see example in posts)
Rising wedges (RW) cause an imbalance in supply and demand due to lack of healthy pull backs. When it is time to pull back, there is a shortage of buyers, so BOOM! Everyone interested in buying, has already bought it I guess.
There is a lot of volume at 84.5ish. I will wait to be sure before entering.
Tndm broke from a cup and handle pattern earlier this year. Strong stock as a rule so perhaps will not fall too far
Good luck!