On the chart, there are a couple of developments that I want to point out to draw a bearish scenario:
1. Cutting of trendline with 2 days of heavy volume.
2. MACD turning down below the 0 line and cutting the signal line.
My analysis is based on my Elliott Wave Counts and also on study of a few underlying stocks like AMZN, TSLA, and NVDA (the more obvious bearish technical setup).
1. Cutting of trendline with 2 days of heavy volume.
2. MACD turning down below the 0 line and cutting the signal line.
My analysis is based on my Elliott Wave Counts and also on study of a few underlying stocks like AMZN, TSLA, and NVDA (the more obvious bearish technical setup).
Order cancelled
I've changed my mind and think that this is going to be a bull scenario instead.
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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.