AAICBy breaking the previous lower low to the downside, the stock could fill the long wick and reach the 85.5 level. If those levels are also broken, it may try to find support around the Fibonacci 1.618 level and the 200-day moving average of 69.5 levels while potentially creating a Head and Shoulders pattern.
Without the creation of a higher high, the stock may carry risk for traders who are uncertain where to set their stop-loss.
