CAN: Head-and-shoulder bearish signal

As devastating as it is today, the worse is yet to come. It's possible that CAN retract for a day or two but the downtrend is inevitable and most likely won't stop for another %50 loss. This was not unforeseeable considering the gap that was about to be filled as you can see in white boxes.

Note

Getting closer! I don't think it would be a straight shot down, it should bounce for a day or two in between before it hit my target. Let's see!

Note

I was the first to see this but someone else is getting the thumbs up! haha

Note

4 more dollars to go. That's 40% down. Do not go long on this ticker for now, and if you have long positions, you need to think about averaging down when it hits the rock bottom (7-8) or just trim it down.

Note

This timeline is extended but the target still looks valid.

Note

getting closer.

Trade closed: target reached

Note

Followed the path as predicted. Happy Trading!

MarkitMaven

Market Maven: Never Miss a Move.

Disclaimer: This is not a financial advice and all posts are for educational purposes only.

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

MarkitMaven

Market Maven: Never Miss a Move.

Disclaimer: This is not a financial advice and all posts are for educational purposes only.

Also on: