We are now at newer lows and challenging the 200 dma on the daily chart (39.43). Surprising no love for my prior charts (not) everyone seems to be uber bullish. Either way make your own trades and good luck.
The problem with bearish pennant there is I don't see one. You drew line through one end of whisker and one end of candle. If you draw instead line based on candles ends, you will see downward channel.
Jimmyza
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@ptihiy, Can draw a lot of different ways.... I like to pay attention to the low (or high) and then where it decides to bounce (drop) after it is touched. In this example it dropped to 39.81 and bounced to 49.48. That is where I drew this lines on april 6th and they held until it dropped out on the 8th. Overall, we could stay in the 39.81-49.48 range for a long time (helps the 200 dma is support right below 39.81.) However, my bet is we break below and hit lows 20s instead of breaking above 49.48. Good luck!
CJS04
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Like I had posted a couple weeks ago let it get to 12-14 bucks before considering buying some of this garbage. Wall Street knows exactly what they did. It is exhausted indicator wise but being the market is very oversold and needs a correction wait for it. This is not the time to enter short if you aren’t already short but is noway a time to buy either. Better prices coming much better if you are patient. If you are one of those warrior day traders knock yourself out. It will never go well for you anyway. Hahahaha
bmarsland88
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@CJS04, I've been killing with puts on this stock. Going to look to enter more tomorrow.
Jimmyza
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@bmarsland88, be careful with the 200 dma! This could take awhile to break imo. Good luck!