COTI - BIG DESCENDING BROADENING WEDGE
Updated
After the big drop on 8th March, Coti has been moving in a downtrend making the Lower High and Lower Low all the while forming a BIG DESCENDING BROADENING WEDGE along with it which normally gives upside breakout. Right now, it has to face the resistance of 200-Day EMA (in green) and if it manages to close above it, in addition, take support over it then we might see it knocking at the doors of final resistance,i.e, the downward trendline of the DESCENDING BROADENING WEDGE and move to higher levels as mentioned on the chart (in green).
However, failure in doing so can reject the price from there back to the lower levels (in red).
Both, resistance and support levels are mentioned in green and red, respectively. DYOR.
However, failure in doing so can reject the price from there back to the lower levels (in red).
Both, resistance and support levels are mentioned in green and red, respectively. DYOR.
Trade active
Breaking out of the upper downward trendline of the Wedge.Trade closed: target reached
All Targets done
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.