Reversal potential soon. Prior two wedges have retraced at least to 61% Fib, Potential 40-45 in 6 mon
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GMOTruths
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If lessening downward trajectory and smaller bounces indicate a smaller bounce, then we can speculate any bounce out of this level (~$20) will be smaller.
Where you want to cut off the risk/reward is up to you. On the daily chart, a tiny price gap around 33.33. But in the current market conditions, coupled with the amount of resistance above, I'll takea short term profit around $25 — a $25% increase.
Where you want to cut off the risk/reward is up to you. On the daily chart, a tiny price gap around 33.33. But in the current market conditions, coupled with the amount of resistance above, I'll takea short term profit around $25 — a $25% increase.