the new high was higher than previous with greater RSI, and the correction went down exactly to second Fibonacci line, which is equal to the previous high. 54.32 is all time high for the stock, breaking it will send the stock to another rise (its on the rise since becominc public in may 12)
FCK the fork is a mistake, i forgot to delete! sorry!!
What seemed to be breaking out from descending channel, which started in the beggining of June till the middle of September, is looking more and more as a correction to me. After breaking the resistance line in the end of October, the pair made two highs right one after another. If we see closer, even that...
Yahoo finance yesterday: "The cloud platform company on Thursday announced a strategic alliance with AT&T Inc"
yesterday the rise stopped exactly on the resistance line of two previous highs, if its broken today big long!
After jumping 10% yesterday, today is the test - is it for real or just some unjustified hype.
Wait till the stock breaks the 39.50 line, go...
If the minor support line is broken (can happen even today), the stock is goin down till the next major support, which is in 80$ area (it's easier to seeon weekly chart)
There is also a very short stop, 89.5 get out for sure!
after watching the stock going exactly in the channel for 3 months, the last high couldn't reach the top, but stopped at the previous high level. the MACD is also showing some weakness. if the price breaks down from the channel, it could go till 21$ easily