The project is design to highlight potential support/resistance zones with the rectangles, but also a design of lower/higher probability of reach. The path of the white dots is projected to have a higher probability while the big blue polygon lower probability of penetration.
Marked level could be highly significant in the upcoming developments in this stock, while near the marked time stamps we could see some shifts in sentiment and mood. Shift in volatility and/or mood near the Earnings report and the vertical rectangle.
The squarish looking rectangles are more like milestones for potential developments if we reach those zones in the future. Any support/resistance level can provide reversals but also breakouts in some cases.
Currently at the longer purple rectangle with signs of support, but I wouldn't go long right now. Because of big blue lurking potential "no go" zone, I am little bit biased towards the more bearish toned scenario with a more sliding style of price action rather than power impulse runs, but time will tell.
Marked level could be highly significant in the upcoming developments in this stock, while near the marked time stamps we could see some shifts in sentiment and mood. Shift in volatility and/or mood near the Earnings report and the vertical rectangle.
The squarish looking rectangles are more like milestones for potential developments if we reach those zones in the future. Any support/resistance level can provide reversals but also breakouts in some cases.
Currently at the longer purple rectangle with signs of support, but I wouldn't go long right now. Because of big blue lurking potential "no go" zone, I am little bit biased towards the more bearish toned scenario with a more sliding style of price action rather than power impulse runs, but time will tell.
Comment:
The price never got to touch the red level after the break of the purple, and this setup right here might seem like a paradox in the following description but it also could be way more simple: This recovery on the upside reaching the purple plank again might not be a retest. At the same time, it might not hold and push resistance on the price. In other words, this could catch the bears fever again, but not for decisive lower lows. Time will tell. Let's see if this zone holds for now.
