Low risk, high reward. The last support is 8.80, in the case of break down the title will be change to high risk, low reward. :)
It hit strong a resistant over 200EMA, follow buy when breakout.
It's time for the market to make a direction decision again. No one know until it happen.
This is a great insight that the down trend is still moving downward.
Seem like the handle is too deep but it is still handle. Is it forming ABC? hmm
There can be 2 ways. First, break support and moving forward in down trend. Second, bonce back and forth in sideway channel for awhile and waiting for the news to choose the direction.
The stock is forming a perfect cup and handle pattern.
The next things to do is keep on eye on the big support line.
The market seems more fragile than I thought and the regression is coming earlier than it should be.
Back to test a strong support again and guess it will fly away from this point.
This mean it might not drop so far from a current position.
Reversal with small up-trend after hitting a strong support and heading up to hit the first resistance.
It depends on a ton of factors that will impact to small market, but now we know where does it heading to, the end of curve.