What we're seeing is a formation of something called a bear trap. It's a bullish sign for reversal.
Previously, we're thinking it's a bubble. But apparently, the market tells us otherwise.
We'll consider this as a monster stock when it breaches at the all time high of 29.20 with strength.
However, we need to monitor any signs of weakness. For example, a formation of lower high would mean a sign weakness. Thus, the deal is off.
Previously, we're thinking it's a bubble. But apparently, the market tells us otherwise.
We'll consider this as a monster stock when it breaches at the all time high of 29.20 with strength.
However, we need to monitor any signs of weakness. For example, a formation of lower high would mean a sign weakness. Thus, the deal is off.
Comment:
At the very least, if it wants to continue going down, we want to see it will go back in its downtrend channel. Alternatively, a formation downward channel would also be sufficient for invalidation. From there, we'll need to study again.
Order cancelled:
This is already invalidated by the new downtrend channel line.
But based on its graph, it doesn't necessarily to do a short.
We'll be waiting for a new setup
But based on its graph, it doesn't necessarily to do a short.
We'll be waiting for a new setup
