Price hasdipped through the bottom trendline of the risng wedge pattern. The bottom trendling narrows and ends at 51.93 This pattern is often bearish but is not valid unless bottom trendline is brokencausing a fairly deep pull back. A RW can be a very long term pattern. A strong stock can actually break up and out of this pattern..or fall through bottom trendline but only briefly. It just depends but all in all, a RW is bearish
Not a V Cup as the line I drew is above the long entry level
I drew that line to show possible support
ITB has taken a dip out of it's RW already as well. ITB is another option which is similar but the holdings are very different. Take a look at both as they are both at basically the same price range right now with similar targets. ITB has LOW, HD, BLD, PHM, DHI, NVR, TOL, MAS, LEN and SHW among it's top 10 holdings
Top 10 Holdings
WHR - Whirlpool Corp4.29%
DHI - D.R. Horton Inc4.27%
LEN - Lennar Corp4.25%
TREX - Trex Co Inc4.23%
CARR - Carrier Global Corp Ordinary Shares4.21%
TT - Trane Technologies PLC4.17%
LOW - Lowe's Companies Inc4.13%
PHM - PulteGroup Inc4.12%
MHK - Mohawk Industries Inc4.05%
HD - The Home Depot Inc4.05%
Not a recommendation
Not a V Cup as the line I drew is above the long entry level
I drew that line to show possible support
ITB has taken a dip out of it's RW already as well. ITB is another option which is similar but the holdings are very different. Take a look at both as they are both at basically the same price range right now with similar targets. ITB has LOW, HD, BLD, PHM, DHI, NVR, TOL, MAS, LEN and SHW among it's top 10 holdings
Top 10 Holdings
WHR - Whirlpool Corp4.29%
DHI - D.R. Horton Inc4.27%
LEN - Lennar Corp4.25%
TREX - Trex Co Inc4.23%
CARR - Carrier Global Corp Ordinary Shares4.21%
TT - Trane Technologies PLC4.17%
LOW - Lowe's Companies Inc4.13%
PHM - PulteGroup Inc4.12%
MHK - Mohawk Industries Inc4.05%
HD - The Home Depot Inc4.05%
Not a recommendation