Once again, we've got one of my favorite patterns coming to an apex on a high-beta name. At first glance, this looks like a it might be a descending triangle with the base at 192.87, but there's no descent to make this a continuation pattern.
I'd look for an upside late this week. If we break and hold below 184.10, the pattern is invalidated and there will be a big short to ~170. We're risking ~4% for as much as 19%. First target is 216, second is 230.
I'd look for an upside late this week. If we break and hold below 184.10, the pattern is invalidated and there will be a big short to ~170. We're risking ~4% for as much as 19%. First target is 216, second is 230.