Simple idea for a short scenario but only if a reversal pattern or signs of weakness occur at the top green rectangle zone. Discretionary approach for each trader to decide according to their needs or preferences, perhaps in tune with other opinions found elsewhere.
Just wanted to leave this here for anyone interested in this stock, as I have also developed some projected potential zones of support/resistance for the future in case a bearish scenario unfolds, and if the big green zone holds as resistance.
The last red rectangle zone is only for extreme longer term scenario. Much can happen until then with this stock, even before the next earnings report which is right before the time zone of the big red.
If the price does start to slide towards the pink I am curious to see the price action and developments near the smaller red ones with potential auxiliary signals for short entries in these areas.
Just wanted to leave this here for anyone interested in this stock, as I have also developed some projected potential zones of support/resistance for the future in case a bearish scenario unfolds, and if the big green zone holds as resistance.
The last red rectangle zone is only for extreme longer term scenario. Much can happen until then with this stock, even before the next earnings report which is right before the time zone of the big red.
If the price does start to slide towards the pink I am curious to see the price action and developments near the smaller red ones with potential auxiliary signals for short entries in these areas.
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Decent rebound from the corner of the rectangle. Probably not an ideal setup for some (myself included) but it is still worthy of attention. Anything can happen.
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Decent drop from the green zone but I am not sure if we could see a drop as far as the slim green one or a retest of the top one. Either way, by the end of may, we might see the price near the first red rectangle.
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Is this just a retest of the green? I don't know, but I still believe we could see the first red rectangle touched somehow. Not confident in any potential sharp downswings for now, but I could be wrong...
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3rd attempt at the green zone and this one could be crucial. Watching this closely. Will it be penetrated and will it hold? Or will the bears get back in it?
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When I mentioned we might see the market at the first red rectangle was not quite imagining this scenario. Found some support on the top of the green, followed by a drop from it.
Bearish mood might continue further down the road
Bearish mood might continue further down the road
Comment:
Was this the dip to buy? I am not convinced. It could meet resistance at the blue rectangle triggering another corrective style wave towards the other one. Big Bearish tones might not hunt this stock any more, but Anything is still possible. It was a big drop.