Duolingo, Inc.Short
Duolingo Indicators Are Flashing Red
As an update, Duolingo appears to be testing the limits of its rising wedge pattern.
Mathematically speaking, when the price breaks out of this pattern, a 27.52% move is in store. If it happens soon, this would line up very well with where most analyst price targets are located ($145 range).
Other significant indicators are also becoming more bearish:
1. The RSI triangle is becoming narrower with a break to the downside likely.
2. The Chaikin Money Flow is showing that investment has been drying up for the last week. DUOL isn't dominated by insiders or institutional investors; the CMF decline represents retail losing confidence in elevated prices.
3. The MACD also had a death cross last Friday and is headed downward.
4. Not shown here, the Schaff Trend Cycle indicated Friday a "Sell Signal", meaning that a significant downturn is in the short-term.
The 3 white circles demonstrate where we should see trendline breaks if a correction were to begin early this week.
Mathematically speaking, when the price breaks out of this pattern, a 27.52% move is in store. If it happens soon, this would line up very well with where most analyst price targets are located ($145 range).
Other significant indicators are also becoming more bearish:
1. The RSI triangle is becoming narrower with a break to the downside likely.
2. The Chaikin Money Flow is showing that investment has been drying up for the last week. DUOL isn't dominated by insiders or institutional investors; the CMF decline represents retail losing confidence in elevated prices.
3. The MACD also had a death cross last Friday and is headed downward.
4. Not shown here, the Schaff Trend Cycle indicated Friday a "Sell Signal", meaning that a significant downturn is in the short-term.
The 3 white circles demonstrate where we should see trendline breaks if a correction were to begin early this week.
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.