Not sure if it would be valid, since we dropped into the pattern.
VET's daily rsi is now close to leaving the overbought zone, which i'm glad to see because I think after the run we just had we need to consolidate. If this pattern plays out, I suppose $0.3 could be our next major stop. However, if we lose the lower trendline, the first thing i'd be looking for is a double bottom at around $0.19. Curious to see how this plays out.
VET's daily rsi is now close to leaving the overbought zone, which i'm glad to see because I think after the run we just had we need to consolidate. If this pattern plays out, I suppose $0.3 could be our next major stop. However, if we lose the lower trendline, the first thing i'd be looking for is a double bottom at around $0.19. Curious to see how this plays out.
Note
lower trendline may have been lostNote
pattern broken, VET came close to retesting the low from the flash dump last weekend of around 16.9.
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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.