Bearish set up (price to move lower)
Its made a wedge and the height of the wedge takes it back to the all time low, which could be exceeded as over 95% reduction from the apex of the pattern.
Hopefully people get out of this if you have a bearish point of view as quick as possible and any rallies are to be sold if you are bearish
Long term, over the next couple of years this pattern does not look bullish to me at the moment
If it breaks upwards and subsequently moves over the apex point then this bearish pattern is voided and the bull market returns. If it pops back under again then this ones really in trouble.
Wishing you luck with your trading, if you are a novice then this is not a good instrument to play in with potential for it to practically go close to zero which is unusual for a stock. If you work for them hedge your share options and keep your CV updated.
Some of the market makers are stopping taking short positions on it now, to hedge your holding that usually means an imbalance and excess of short interest possibly with a full order book at for the market makers and they do not want to take on any more downside risk.
Please be careful if you are retail.
Its made a wedge and the height of the wedge takes it back to the all time low, which could be exceeded as over 95% reduction from the apex of the pattern.
Hopefully people get out of this if you have a bearish point of view as quick as possible and any rallies are to be sold if you are bearish
Long term, over the next couple of years this pattern does not look bullish to me at the moment
If it breaks upwards and subsequently moves over the apex point then this bearish pattern is voided and the bull market returns. If it pops back under again then this ones really in trouble.
Wishing you luck with your trading, if you are a novice then this is not a good instrument to play in with potential for it to practically go close to zero which is unusual for a stock. If you work for them hedge your share options and keep your CV updated.
Some of the market makers are stopping taking short positions on it now, to hedge your holding that usually means an imbalance and excess of short interest possibly with a full order book at for the market makers and they do not want to take on any more downside risk.
Please be careful if you are retail.
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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.
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.