Just sharing a chart for those who care about technicals.
Despite my bullish stance long-term, the setup here is worth noting. The stock has had a strong move off that $2.50 multi-bottom, but it’s now stalling close to the 50 EMA -- which also lines up with the upper trendline of a clear descending triangle.
That descending triangle pattern, by nature, tends to be a continuation to the downside -- not always, but often (~70% of the time). With the Jefferies GHC coming up -- historically a selling event for this name -- I think it’s worth flagging.
FWIW: I don’t just post when things look bullish. I try to stay balanced. Even when I’m long, I’ll call out what I see rather than blindly cheerlead. Might end up being a non-event, but I’d rather acknowledge the setup than ignore it.
Let’s see how things materialize. Cheers and GLTA.
Despite my bullish stance long-term, the setup here is worth noting. The stock has had a strong move off that $2.50 multi-bottom, but it’s now stalling close to the 50 EMA -- which also lines up with the upper trendline of a clear descending triangle.
That descending triangle pattern, by nature, tends to be a continuation to the downside -- not always, but often (~70% of the time). With the Jefferies GHC coming up -- historically a selling event for this name -- I think it’s worth flagging.
FWIW: I don’t just post when things look bullish. I try to stay balanced. Even when I’m long, I’ll call out what I see rather than blindly cheerlead. Might end up being a non-event, but I’d rather acknowledge the setup than ignore it.
Let’s see how things materialize. Cheers and GLTA.
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.
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.