A DBW is traditionally a bullish indicator as sellers lose control at three definite points in increasing magnitude. Though such a pattern does not necessarily mark the end of a downtrend, a break above the top resistance line indicates validation of the pattern.
SNDL has been, along with the Canadian cannabis sector, in a long downtrend since June 2021. If you exclude the 2 sharp jumps in prices, the pivot points have been making a Descending widening wedge. This reversal pattern, in addition to the company's recent acquisitions and diversification of assets, may lead to both a sharp jump in price in the short term and an...
ICLN has created the three drives down pattern to the proper fib levels and is primed for a reversal to the upside. This would break the short term down trend and return back to the long term uptrend. Near 100%+ retrace of the last drive is common in such a set-up.
When creating a trading channel for all of 2019, LULU showed consistent growth and created this neat and reliable trading pattern. Enter the Ides of March. The raucous movements of all stocks disrupt this pretty uptrend. LULU fell much further than it should and then, subsequently, rallied higher than it should (if it was to stay within the previous trading...
