The recent break of the long term trend at $96 to $78 was the start of the A=B down trend. The retracement to C at $92.17 confirms that the stock is headed to $74 where it will find support at the 1.27 FIB. Short or buy a Bear Put
Note
Breakdown Is happening - next stop 76.62Note
Major support area. Bears watch for $77.10 price level at which point short it taking profits at $64. Bulls watch for consolidation and go long at $90.
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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.