Short

Bulls playing a dangerous game of hot potato

Updated

We are on 3 consecutive weekly gap ups, which is an exhaustion pattern, accompanied by being far outside the weekly Upper Bollinger Band. Daily RSI in the mid 90s and 4hr also in the 90s. This thing is going to waterfall hard. Not a short recommendation unless experienced, but definitely a time to take some off the table and have a very tight stop

Note

Daily RSI, as stated above, is the highest that it ever has been in the stocks existence being now over 94

Note

4hr RSI is at historical levels only ever seen before once in the history of this stock for over a decade

Note

So going back over a decade worth of charts and analyzing them, what happened the last time the daily and 4hr chart were this overbought? A 29% pullback followed. Trade safe, keep those stops tight and don't forget to lock in profit. This is going to be a wild ride

Natestradamus

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