QNT Wyckoff Distribution in Motion 35.00 Target?Not financial advice
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I will show a previous chart I posted 9 months ago about the head and shoulders rejection and how 85.00 and 60.00 level was key.
QNT Analysis
We are in a 5 wave corrective move on the overall history of QNT.
As you can see the bright purple trendlines as well as the double top on the Stoch Rsi and the MACd swinging down.
The selling pressure is intensified with each support level being lost
The last level we lost was the 101.00 range.
Trade ideas moving forward
If selling pressure continues I can see a swing low of around 35.00 to complete the the ABCDE correction.
If markets start to level out and maintain. I would watch to see if the 60-65 area holds
Proceed with caution til we take out some resistances that was lost and we can reclaim.
Always Do Your Own Research
Always Practice Patience
#PIK Patience Is Key
#TLAW Think Like A Whale
