Positive Technical Signs:
Retraced to 61.8% on weekly TF
Previous resistance turned strong support level
forming Triangle pattern (may breakout of breakdown)
If stock is holding above 36 it will be positive and might take a little more time to give breakout if expected as seen in the chart triangle.
Breakout from triangle will very give strong up move.
If someone has it they can average it at this level but close below 36 then it's gone.
For now, we have to keep it in the watch list.
DISCLAIMER: For education purpose only, do your own analysis or consult your financial advisor before taking position.
Retraced to 61.8% on weekly TF
Previous resistance turned strong support level
forming Triangle pattern (may breakout of breakdown)
If stock is holding above 36 it will be positive and might take a little more time to give breakout if expected as seen in the chart triangle.
Breakout from triangle will very give strong up move.
If someone has it they can average it at this level but close below 36 then it's gone.
For now, we have to keep it in the watch list.
DISCLAIMER: For education purpose only, do your own analysis or consult your financial advisor before taking position.