Wow. Thats a large head and shoulders pattern. I worry for the Tesla shareholders but my guess is they are in for quite a lot of pain as long as the price remains below the neckline. The stock just recently came back to touch the neckline, a confirmation of the pattern should be completed after the stock crosses below the Jan. 6 low.
With rates quickly increasing, inflation running rampant, the fed moving to QT and away from QE. The future certainly looks bleak. A recession will lead to lower gas prices and will eventually bring other prices lower, but first, a massive repricing needs to take place.
ANY appears to be setting up and is looking to complete confirmation of inverse head and shoulders through retest and breakout from neckline.
Break below support line would confirm pattern and target would be 50 percent from bottom to high.
Someone's teaching the Salt and Pepper Index the head and shoulders song because we about to drop down and touch them knees!
If this pans out. I feel for the holders who believe in this long term. The amount of loss would be immense for the crypto market.
If the Fed stays on its current path to ending QE and increasing interest rates. This is certainly possible.
Reading the analyst projections. I just don't see this company being able to grow at the same pace as 2020. I would expect the growth story to end in the coming 4 quarters and large downside to follow.
I believe this is a continuation pattern. Same thing happened in aug 2016
Hopefully, my 5 years of technical analysis trading will help me be correct on this. If I'm lucky it will run to the gap and I'll sell my weekly calls at the red line for a massive profit.
A possibility. Maybe trade news comes out and a sell the news event happens at end of 5th arrow?
expecting a move up to downtrend line in the next couple weeks. looks good, rsi looks good. Everything.
Up or down expected move. Waiting for confirmation either way.
Currently in a downward trend the likelihood of the S&P to go down is high. However, on the daily chart RSI points to a break to the upside so what happens these next couple days is vital to determine our direction. The weekly close should determine if we go up or down. If a break to the upside a hold over the weekend could be risky with so many potential negative...
With all the volatility earlier this week. ADM showing strength
I have been watching this for a long time.