A few factors lead me to believe this stock might make a short term reversal.
First, RSI showing that bear strength is getting weaker. Additionally it seems to have formed a very short term double bottom (can be observed better in a short term timeline graph). On top of this price action could bounce off of 24% fib.
The trading range is decreasing as the wedge is getting more narrow, i wouldn't be surprised if the price action were to test the upper limits of the wedge if not break it altogether.
Well have to see how this develops till the end of the week
First, RSI showing that bear strength is getting weaker. Additionally it seems to have formed a very short term double bottom (can be observed better in a short term timeline graph). On top of this price action could bounce off of 24% fib.
The trading range is decreasing as the wedge is getting more narrow, i wouldn't be surprised if the price action were to test the upper limits of the wedge if not break it altogether.
Well have to see how this develops till the end of the week
