Looks like a reverse cup and handle here. I have been tracking this before the handle formed, just didnt think to publish this idea/observation.
Expecting the price action to break the support at $73.53. I would enter short positions once that price is broken for a higher probability of accuracy, however, i suspect if/when that support is broken that it will be a "free fall" of sorts, likely triggering stop loss sells.
Expecting the price action to break the support at $73.53. I would enter short positions once that price is broken for a higher probability of accuracy, however, i suspect if/when that support is broken that it will be a "free fall" of sorts, likely triggering stop loss sells.
Comment:
inverse cup & handle**
Comment:
Flip Side: a double bottom at the support line would obviously be very bullish and my sentiment would change to a long position
Comment:
Never actually entered a position here -- was tracking this for practice/fun. but it is looking like this set up is no longer valid. There was bullish divergence and mabe that was enough to get bulls buying here.