Some conflicting pieces of information here from my point of view.
On the Long-side:
1. Ascending Triangle (Purple Box & Hashed line) - often considered a bullish pattern
2. Convergence of 20 & 50 ema (Orange + Purple) - watching for a cross as a bullish signal
3. Strong fundamentals and DCF indicating an under valuation
On the Short-side:
1. Bearish convergence...
Retrospective look at $BCRX:
1. Gap down to lower low aligning with oversold signal on RSI (Blue Circle).
2. Continued downtrend forming Descending Triangle (Pink Dashed) following hypotenuse resistance line and flat support line.
3. Double bottom then forms (Green Box & Dotted Line and Orange Arrow) within the converging trendlines.
4. Simultaneous bullish...
Afternoon all, I'm trying to get into trading and would love some opinions.
I have been looking at the daily chart for $BEKE and believe we could be looking at a descending triangle (in Orange) for a potential short position.
Guess I would be looking for a breakout to the downside, either below the pattern support zone (orange) or potentially the LL (in Pink)....
New trader here, would greatly appreciate any feedback on my rudimentary analysis.
I have been watching $JD and am proposing the potential development of an Inverse Head and Shoulders pattern.
I would now be looking for a pullback from the neckline (top purple box ~$71) to the shoulder line (middle purple box ~$65), before a break of the neckline to enter a long...
