The "neckline" of the bottom after the market collapse of 2020 is very strong support as the selling at this juncture was a panic mode due to the pandemic economic lockdown. Stocks collapsed beyond fundamental levels at that time. This support level is going to thwart downside action for many stocks near this area. This kind of pattern warns of the impending...
Overbought stoch and rsi on monthly inside a rising wedge ! first candlestick target is $82. Second target in $60 Prices ! 2.2 trillion market cap is just a joke . Its time for a big dump ! Ride it
* Sberbank of Russia (ordinary shares) trades below Weekly SMA(200) almost 1st time in past 5YRS. * 95% of 10YR Trades Volume is near 110 or below. * 99% of all-time Trades Volume is near 110 or below. * Looking for further 35% decline.
Looking at the trend from 1920's, the trending line shows a big support at 1500's which also matches with the top at 2000 and 2007
The boomers have lived their lives fucking over the millennial, now is their turn to "feel the Bern" lol. I prefer white path for maximum opportunity. Maybe FED saves the day and nukes this idea and we can make a larger blow-off top for a -99% decline. ***Not investment advice.
I see only two scenarios: We create a swing low Monday on bad ISM data and weekend CV news, then start consolidating for a few days to perhaps weeks and then get rejected at first key ressitance like weekly 50 EMA/MA at around 3030. I don't think the trapped longs from last fall to now will be able to get out. That is wishful thinking even with Fed intervention.