Huntz

Huntz

It's shaping up to be a bear flag. If right, we could see 23% downside, with a price target around mid $22.

Huntz

This rising wedge is looking scary. A possible break to the downside is imminent (within the next several days). We might get some support and bounce upwards, but we are close to crossing below the 50d MA. Also a bearish divergence in the RSI is making me lean more towards bearish overall.

Huntz

Could see a 5% swing to the downside over the next week. Might hit the bottom of this descending channel that we're in, which would be around $480. We're also below the 50d MA, so I would be cautious.

Huntz

If we break the neckline (green line) and then cross above the 50d MA then I would consider going long. If we do not break that neckline at any point, I will remain bearish.

Huntz

FNGU is a 3x leveraged fang etf. We've had a small consolidation (flag) but now we've started moving downward again (potential bear flag pattern). Bear flag price target of roughly $15 would mean a 45% fall from current price. Price target lines up with support levels of around $15 which we bounced off of multiple times in September 2020. We also recently...