My previous idea became invalid. Thus, here some updated TA on MOVR.
MOVR is now forming a descending triangle--a bearish chart pattern (that usually forms during a downtrend as a continuation pattern). The pattern 'normally' indicates that sellers are more aggressive than buyers hence "lower highs". Thus, we might see a trend reversal at play. Wait for the breakout below support as well as a second confirmation.
As usual, best of luck!
-If you agree with this, like and share.
Cheers.
MOVR is now forming a descending triangle--a bearish chart pattern (that usually forms during a downtrend as a continuation pattern). The pattern 'normally' indicates that sellers are more aggressive than buyers hence "lower highs". Thus, we might see a trend reversal at play. Wait for the breakout below support as well as a second confirmation.
As usual, best of luck!
-If you agree with this, like and share.
Cheers.
Nota
The projected target of this descending triangle wouldn't make any sense. The overall market is still bullish. MOVR seem to be forming a flag pattern (bullish continuation). I consider this idea invalid. Nonetheless, price may touch the .78 fib before lifting off. -Best of luck!
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