The price has broken below the support area and bounced from 2.618 fib extension area of $94 - $90 . If that fib support fails, we are looking at $65 - $50 with little support around $80 area.
Judging from RSI being oversold, the stock may get a near term relieve bounce. This bounce will find resistance at $110.
Right now sitting on the sideline and watching how this plays out until reversal or bottom is found.
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
Judging from RSI being oversold, the stock may get a near term relieve bounce. This bounce will find resistance at $110.
Right now sitting on the sideline and watching how this plays out until reversal or bottom is found.
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.