I am sorry. I must disagree with you. I don't see the bulls taking control of this zoom market in the short term. Look at the preceding bars. The bears came downwards with high volatility and momentum. Then before the last bar, there was volatility contraction. But thirty minutes later, the bear bar opened lower than the high of the low volatility bull bar and is still going down. I see the bears holding their ground and sellers will not be taking profits soon. This is a short position please.
dutchiexl
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@Emekadavid, I totally agree. You say based on the technical analysis, but fail to explain your analysis. I see only weakness in the technicals + news is very bearish. I can not advice other people what stance to take here. but I CAN advice to be carefull and don't believe everything you read.
In my opinion, without any further deep dive, I see a descending triangle and a stock retesting it's support for a third time with continually lower highs. If the support breaks it could be a nice short position
Emekadavid
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@dutchiexl, I told you that it was a bearish move. The support did break. It broke with a gap. I just checked it right now.
@Emekadavid, Well done and I agree with your bar analysis. Descending Triangle is a bearish signal, so it would have been a signal not to go long for a short term analysis.
I was wrong...I still think that long term analysis would be bullish.