Earnings beat.
Conflicting patterns as a cup is bullish and the wedge is bearish. Rising wedges are not valid until the bottom line is broken, so this wedge is not valid as of yet.
Rising wedges can also break to the upside which this one did. Some would say a RW is caused by FOMO.
It exhibits too much excitement and it causes too much supply. When price comes back down to break the wedge, there will be excessive selling but not until then.
I have not seen a RW that was not eventually broken but they can be a long term pattern depending on market sentiment.
The cup reached EL (long entry) level with the earnings beat. Targets for a cup are calculated using the depth of the cup. T1 has been reached. Targets calculated but the rising wedge could mess with this cup and cause a throwback. This is a large Rising Wedge (RW). It remains to be seen.
There is a falling wedge at the bottom of the cup. This is opposite of a RW. Both lines slope down and converge at the apex. A Falling Wedge is bullish when the top line is broken.
No recommendation
Conflicting patterns as a cup is bullish and the wedge is bearish. Rising wedges are not valid until the bottom line is broken, so this wedge is not valid as of yet.
Rising wedges can also break to the upside which this one did. Some would say a RW is caused by FOMO.
It exhibits too much excitement and it causes too much supply. When price comes back down to break the wedge, there will be excessive selling but not until then.
I have not seen a RW that was not eventually broken but they can be a long term pattern depending on market sentiment.
The cup reached EL (long entry) level with the earnings beat. Targets for a cup are calculated using the depth of the cup. T1 has been reached. Targets calculated but the rising wedge could mess with this cup and cause a throwback. This is a large Rising Wedge (RW). It remains to be seen.
There is a falling wedge at the bottom of the cup. This is opposite of a RW. Both lines slope down and converge at the apex. A Falling Wedge is bullish when the top line is broken.
No recommendation
Nota
Overbought today with RSI set on 80 versus 70Nota
8/2Shooting star noted. Price has not broken bottom line of the Rising Wedge yet.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.