More likely to go down from here; it could come up and test the top again; But will most likely still go down long term;
If it manages to above the descending traingle, then we can see massive gains quickly
Overall seems to be leaning towards a symetical triangle; BUT inside of it, there is a strongly downward sloping wedge; this wedge indicates a push upwards possible;
i think it will bounce off high 39's (low 40s) and then keep going;
Im a little confused because usually head and shoulders this visible cause more damage than this;
But there seems to be heavy support on the weekly chart at the low 20.XXs;
My gut tells me there should be a bigger drop than that, but if we go simply by the chart, there should be a bounce at the blue line. If it does, crops below that blue line though, then...
By no means has the sell off stopped; in the next few days, there should be another big drop;
if we manage a move outside the blue resistance (top), then we will begin a new structure; however, it is likely that we will bounce straight down from it
lower blue line has been support on multiple occasions; its the weekly chart support line;
Overall, we're in a downward wedge; it is not being squeezed, so i do expect the price to continue to go down; but you can catch it going up first before it continues to move even lower;
Price target for me is 14
But absolutely wait for the bounce first; even after the...
On the weekly, this is a slight descending wedge; on the daily, it is more slanted of a wedge; these are both actually good signs that we probably through the worst of the downtrend
It is close to the bounce or fail area though; so i personally expect this to bounce of the blue line (weekly charts support); if it goes below that, then the bottom red line should...
First of all, beware of a false breakout by sharks trying to get you to go long; Basically they make it look like its breaking out of the channel but then it retracts, falls into the channel and goes to the lower end of the channel;
anyways, i'm looking for the breakout; im less risk averse, so i'll be willing to take the long after two days of it remainng...
There should be a bounce on the red line (bottom); it would be a safe play to take this long after the bounce; but beware of it trying to enter the blue channel;
that is why its better to wait for the bounce;
once the bounce occurs, we could potentially take this up to 23 or 24
Its getting near a good support zone;
however, its done a major fake out before, so this one is kind of a dangerous play; if you see the chart, it looked like it bounced off support and then tanked; but then again that could have been consolidation to create a bear flag; no bear flag this time;
Wait for the the bounce to make sure that this is actually ready...
Its been following this channel very well; it really shows that big players do consider this a moderate buy signal. A strong buy would have a much steeper slope imo.
Look for the bounce at the bottom of the channel. And if confirmed, then is an easy few percent up.
Safe play imo.
It looked bearish in first half of year; but then something changed and sent the trajectory upwards;
Because its near the middle of the weekly channel; its a tough call to say which way it would go. The rising wedge also looks like its getting squeezed.
That means that this growth is not fully sustainable. It will most likely take a dive and then continue head...