UNFI is under a bullish pennant which technically indicates a rally towards the upside. But if we look at the RSI, then it is making a bearish divergence. We can expect UNFI to move in either direction. If it breaks down below the pennant then we can short UNFI and if it breaks above the pennant then we can go long.
Wait for the confirmation and do not FOMO.
I'll update more on this.
Trade safely.
Comment
UNFI got rejected but didn't play out as expected.
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.