Nen Star//RectanglePrice is at support and has met T1 of the crooked W pattern which looks like a bearish Nen-Star. Price is sitting on target 1. T2 is listed below. T3 would take price to the lower support line of the Rectangle.
Valley 2 of the harmonic structure is lower than valley 1.
Price is also in a large Rectangle which is a neutral pattern until a trendline is broken.
Some would swing trade inside the rectangle as it can bounce up and down inside of it for quite some time. It will eventually break down but can be a very long term pattern.
Green type above the structure are possible targets if there were a break of the upper trendline and orange type are possible targets down if bottom trendline is broken.
Short interest is around 3%.
No recommendation.
Price is still well above the .382 of the long trend up.
