Price pierced the neckline today.
The neckline is a strong line of support until broken with a true Downtrend.
The neckline is often retested and some would wait for the retest of this line to ensure that it is now resistance.
Short interest is around 7.25%.
No recommendation/ES with a confirmed downtrend.
Weekly chart below:
$WOLF very interesting play on a small head and shoulders failed breakdown pattern.
a move over the right shoulder should ignite buying and short covering and re-affirm the uptrend that started with earning gap up.
There is a gap below price that may kick in as support, even if temporary.
Price is still above it's longer term moving averages.
Alternate Shark and price appears to have terminated at the 1.113 versus the .886.
Possible stop above the 1.113 or where you see resistance.
Short interest is around 7.77%
The chart and indicators show the dramatic rise after earnings.
The squeeze indicator is rising while the momentum divergence is
What do you think- will WOLF continue on the uptrend or reverse?
An awful lot of "coincidences" on the yearly. Not going to lie, I was partially shaken out in yesterdays bloodbath, but im looking for this 127/128ish level to hold. For reference as this isnt on alot of peoples radars, stock was savaged after the company offered tepid guidance at their investor day. Looking three years out, still think SiC and Wolf have a bright...
$WOLF used to be $CREE
Nice big bullflag etched in there. Voila.
I wouldn't be in until its backtesting those waistelines. Plenty of jigs thre to scalp if uit's your flavour, though, and in relative safety as she climbs up the right side of the flag to exit. Just saying.