Looking at elliots wave, we can see SC has finished the correction wave. It broke out of the descending triangle and is forming a cup.
Note
Also MACD is curling up and SC is not overbought at the moment
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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.