What we're seeing is a formation of something called a bear trap. It's a bullish sign for reversal.
Previously, we're thinking it's a bubble. But apparently, the market tells us otherwise.
We'll consider this as a monster stock when it breaches at the all time high of 29.20 with strength.
However, we need to monitor any signs of weakness. For example, a formation of lower high would mean a sign weakness. Thus, the deal is off.
Previously, we're thinking it's a bubble. But apparently, the market tells us otherwise.
We'll consider this as a monster stock when it breaches at the all time high of 29.20 with strength.
However, we need to monitor any signs of weakness. For example, a formation of lower high would mean a sign weakness. Thus, the deal is off.
Note
At the very least, if it wants to continue going down, we want to see it will go back in its downtrend channel. Alternatively, a formation downward channel would also be sufficient for invalidation. From there, we'll need to study again.Order cancelled
This is already invalidated by the new downtrend channel line.But based on its graph, it doesn't necessarily to do a short.
We'll be waiting for a new setup
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.