Does this chart indicate a potential period of consolidation before strong bullish momentum? This is my first attempt at "detailed" analysis of a chart form my last few weeks of learning. Please be mindful of this. 😬 From the notes on my chart my analysis is that there may be a period of consolidation that might give a buy point of SEDG around 311. Notes include positive indications.
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RSI dropped to below 50 before previous breakout. Current RSI could drop, if it does possible sign of retracement before another breakout?
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Could also be showing signs of a head and shoulders bearish pattern. if it continues to form that pattern then this bullish trend theory doesn't map out. If we're getting an ascending triangle are we seeing an up trend maybe? Gonna wait it out for sure either way.