We are touching the head and shoulders neckline at $162 highlighted in black.
The good:
- RSI on the daily is showing oversold signs, so price should start bouncing back up.
- There is an exaggerated divergence pattern between RSI and Price
- Momentum is still
The bad'
- The price is coming close to the support which is at $162 as well.
- Volume for sell off is not very concerning but still a little bit.
- There is a weak bearish candlestick pattern forming on the daily /weekly.
- If the price goes below the support zones around $160, then the next target is easily $130-$135.
So please set your stop losses.
It can be shorted TEMPORARILY because I mentioned in the previous ideas that this is near the first TAKE PROFIT zone. This was around $173. I will share the link below. You can see how all my charts have played out exactly the way I said it would.
Chart 1:
Chart 2:
QNT IN WYCKOFF:
The good:
- RSI on the daily is showing oversold signs, so price should start bouncing back up.
- There is an exaggerated divergence pattern between RSI and Price
- Momentum is still
The bad'
- The price is coming close to the support which is at $162 as well.
- Volume for sell off is not very concerning but still a little bit.
- There is a weak bearish candlestick pattern forming on the daily /weekly.
- If the price goes below the support zones around $160, then the next target is easily $130-$135.
So please set your stop losses.
It can be shorted TEMPORARILY because I mentioned in the previous ideas that this is near the first TAKE PROFIT zone. This was around $173. I will share the link below. You can see how all my charts have played out exactly the way I said it would.
Chart 1:
Chart 2:
QNT IN WYCKOFF:
Note
For it to turn bullish it MUST clear this resistance Order cancelled
Failed below safe line. $130-$146 possible
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.
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.