Following on from the wedge drawn in my previous TA on THG. Its adhering to it almost perfectly.
Looks like the downtrend is over, this was always a smash and grab on retailers.
Well done to all who didn’t capitulate.
Strong recovery over Q4 should be what happens next.
Gap down on the daily yet to be filled, strong volume crossover on daily timeframe.
RSI strengthening on 4hour timeframe, stronger than proceeding bounce.
Hammer at the bottom of trend on weekly timeframe, should be a strong signal, possibly shooting past the gap of the course of the new few weeks.
