Footlocker (FL) - Multiple tops - ShortOn this chart (1d timeframe), we can see multiple tops have appeared. Multiple tops is a bearish pattern so it's likely the price will drop. Also, there is a gap to be filled. Once the price has gone beneath the support line the trade can be entered. The price will find support in the support area, this would be the area where the profits can be taken. When it reaches the support area we expect a small bounce before it continues going down.
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Goodluck
Multipletops
VERI Break OutI like the double bottom that happened in May and July in the $16.50 range and the test of 22.50 that failed but made a higher low.
Coming off the higher low the price has moved steadily up the fibonacci scale and current candle closed above the POC line (ytd)
I am looking for a break and close above the descending trendline to go long. $22.10 may give some resistance and $22.58 is the key level. A break of this level will avoid a multiple top, which would be bearish in the short term as it would likely cause a significant retracement.
Targeting: $23.40, $27.18 in the short term.