HCA is giving us some simple stops and profit taking levels. We're nearing a resistance at ~145, which is followed by another at 147. Giving us a clear line to short with an easy stop to place. Coming down, we have 3 major support levels we have to pass/hit. The POC, 119 and lastly 116. A potential play would be shorting until the POC, exiting and securing...
The pair is putting in a triple bottom around 111.000 and there is a new price action squeeze forming back into the range idicating that the buyers are unwilling to let go of their control. If the buyers manage to keep price above 111.600 we might see a possible pullback towards that level and a continuation towards the top of the range.
Descending triangle spotted in SCTY weekly. Will coal affect it's price?
I'm seeing two patterns. One is a descending triangle continuation or an inverse head and shoulder.
Whatever it is, do take the time to observe how it unfolds. Personally, I think it will bounce to $46 and then range. I personally do not think it will shoot up or shit all the way down.