Where everyone sees a bullish penant forming, I see an inverted H&S. Might not be the most academic one, but so far we are in. Stock is acting as planned.
- Macd cross on the 4h chart
- We start seeing some volume accumulation on the daily chart
The way I see things, is bulls pushing prices hoping for some good news, or hype, related to the demo day. As nothing transcendental comes out from demo day, Bears will try to take over to form the right shoulder, and as they don't reach left shoulder low, we have a trend reversal confirmation. For the rest, Thiel will probably use his "magic" during Earnings conf call so we have a breakout of the neckline.
- Macd cross on the 4h chart
- We start seeing some volume accumulation on the daily chart
The way I see things, is bulls pushing prices hoping for some good news, or hype, related to the demo day. As nothing transcendental comes out from demo day, Bears will try to take over to form the right shoulder, and as they don't reach left shoulder low, we have a trend reversal confirmation. For the rest, Thiel will probably use his "magic" during Earnings conf call so we have a breakout of the neckline.
