Going close to parabolic because Jerome Powell said the Fed will be "patient"? Gotta short just based on principle here at the top of the downward channel...
Watching for rejection from either lower trendline of previous rising wedge or top of current downward channel... Neckline indicates a PT of gap fill around $89. A breakout above $112 (left shoulder) invalidates the trade for me.
Watching to see if this bounces off either top of channel or downward trendline. PT is major support at $792 with possible more room to fall.
Doesn't come any prettier than this... Look for a retest of the top trendline in the broadening wedge on a gap up in the next few days. Then short this puppy back to lows on a broader market selloff that's coming in the next wk.
Check the chart and you'll see no less than 5 diff H&S patterns going both ways in the past several months... Expecting this one to play out as well. The yellow line is the daily 200DMA, expecting this to retest that before moving back down in a mid-late jan selloff as the broader market retests the xmas lows. Risk is definitely to the upside on this trade tho so...
Started a position in TLRY... MFI and RSI both cratering but accumulation still looks strong. Expecting a quick rebound to the 50DMA on the hourly which is the upper trendline of the wedge and resistance at previous gap... around $90.
Bounced off all types of trendlines today... In a falling wedge w/ declining volume, RSI bullish divergence, MFI on the upswing, and Acc still looks solid. Looking for a bounce to resistance around 37.
Broke out of a rising wedge with bearish divergence on RSI and Accumulation. Looking for a breakdown back to lower trendline touching previous right shoulder of inv H&S
Just popped out of a bearish rising wedge... This thing's way overdone since late Sep, it's coming back to the 200 DMA within 2 months.
With midterms ending several things will happen: 1) politicians will stop pandering for votes citing data privacy 2) risks of election meddling over 3) general de-risking of broader markets from midterms being over. Technicals also support a move up with FB having broken out of the falling wedge and an inverse H&S forming with right shoulder buy zone in the gap...