RHShort
RH Possible Short Opportunity
Descending Triangle. Lower Highs longer term vs the . Started with a bearish harami.
RSI stuck in the middle.
MACD is looking to turn positive on the daily, but without anything to really boost it, it could be short lived. 2 hr and 4 hr MACD are both looking weak 2 hr with a pop of strength just now, 4 hr still looking for red. Weekly MACD is also looking to go red.
May see a fake out on daily temporarily.
Being around ATH not a lot to draw on for supports, what I can find are the dashed lines. $189.91 with minimal support, $173.93 with much more support and just follows gap fill at $175 and change.
This is not advice.
Fakeout over next day or 2 is entirely possible then a drop to or below support at $207. If it proves to be a descending triangle, would expect it to break below. $228 and change would invalidate the lower highs and possibly the triangle.
RSI stuck in the middle.
MACD is looking to turn positive on the daily, but without anything to really boost it, it could be short lived. 2 hr and 4 hr MACD are both looking weak 2 hr with a pop of strength just now, 4 hr still looking for red. Weekly MACD is also looking to go red.
May see a fake out on daily temporarily.
Being around ATH not a lot to draw on for supports, what I can find are the dashed lines. $189.91 with minimal support, $173.93 with much more support and just follows gap fill at $175 and change.
This is not advice.
Fakeout over next day or 2 is entirely possible then a drop to or below support at $207. If it proves to be a descending triangle, would expect it to break below. $228 and change would invalidate the lower highs and possibly the triangle.
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.