M PatternMs are noted to be bullish as they reverse upward at the end of the 4th leg which may not have been reached yet.
Possible Crab but will see where this bottoms at. Crabs have a 4th leg that ends near the 1.618 and is known as a reversal pattern. A deep pull back is the norm for the 4th leg for the crab. The butterfly ends at the 1.272. This is at the 1.272 but hanging on the line of the 1.272.
This is deeply oversold. It is well below the Bands at this point which is an indicator it is oversold along with RSI.
Sellers do exhaust. There comes a point when you see so many red candles it looks scary sometimes. But eventually the bulk of sellers will be out of the picture and buyers will come in.
The time this sell off takes it related to how many buyers are in this stock. At this point, I would say there were a ton of buyers in the past. They panic and sell. The human soul can only tolerate a certain amount of financial pain. They will fizzle eventually and buyers will come in.
Question being when will this happen?
There are still Rising wedges below price and they are not valid as the bottom lines have not been broken. The lowest being just under 120.
No recommendation.
No recomendation.
