NESTLE (NESN): Bearish ABCD + Fibonacci Short
on nestle, we have a perfect convergence of multiple reversal clues.
first of all the market has recently reached a key level of resistance on the left.
this resistance matches perfectly with 618 retracement of a major bearish impulse.
+ on 4H the market has formed a double top pattern and we see a formation of a bearish ABCD pattern.
it is enough to short the stock expecting a bearish continuation at least to 105.5 level.
for the second target, we can aim at 103.0 level