Re-test upper trendline; breakout possible This is a follow up to a previous chart I had posted many months ago.
As expected, the price was unable to advance past the upper trend line. However, the price has been holding fairly strong and not decreased by so much. At this time, it looks like a re-test of the upper trend line is to be expected. RSI/STO troughs tend to be a good indicator of recent price reversals.
If breakout occurs, price may move to $22.5 - $25.90 (safe range).
Link to prior chart:
STRS trade ideas
Time to short? Price meeting upper trend line.When examining 1W/1D charts, it appears STRS is approaching overbought in addition to meeting an upper trend line that has so far held well for two prior touches. Pattern may play out into ascending triangle or maybe even a rising wedge.
* I wouldn't say the angle of the blue line is necessarily that steep however.