At this point WSM made a pennant and after breaking through its lines yesterday, today a has formed , suggesting a downward movement. Therefore by looking at the big picture, this can be either:
-a throwback to the .*
-a second minor reversal in a symmetrical triangle , hence making the new high an upper boundary for the triangle.**
There are a few possible scenarios:
-if *, then after the throwback and breakout from the dark ellipse , the price will continue with a target: $53.21
-if **, then the following minor trends of the triangle should form and later we can anticipate a breakout from BOTH directions!