There can be two ways of looking this chart :-
First - It is forming a descending Triangle and hence will likely go down after completing the wave
Second - It is showing cup and handle formation which shows that it might just rally up.
Also, RSI does not show any divergence.
Bollinger bands (212) do not show any possible move.
Although chances are 50-50, I believe stock will go down to touch bottom of channel.
First - It is forming a descending Triangle and hence will likely go down after completing the wave
Second - It is showing cup and handle formation which shows that it might just rally up.
Also, RSI does not show any divergence.
Bollinger bands (212) do not show any possible move.
Although chances are 50-50, I believe stock will go down to touch bottom of channel.