Price makes a top Head & Shoulders pattern reaching all time high (ATH) with a slight pullback, not reaching last high in the rigth shouder, continuing to drop afterwards.
Possible entry point in short, with a win/lose ratio of 2.81:1, following the descending channel wirh a profit target in the bottom line of the trend ($100000 Capital, 2% risk, selling 419 shares).
Wedges that point towards the trend are usually signs of a reversal. On the other hand, when they point against the trend (as in this case) is a sign of momentum continuation. The short continues until there is an upper low in the trend ( double bottom ), indicating possible exaustion of the bear run.
Symmetrical triangles are signs of continuation of a momentum, and usually the target is the height of tha triangle's base, which it reached. There is also an ascending (bullish) triangle forming shortly aferwards in this 1W period chart. You can see the importance to place a Stop Loss: in this case the win/lose ratio was 2:1 (taking profits also at the heigth of...
Relative Strenght Index (RSI) is an oscillator indicator that can suggest overbought (green) and oversold (red) zones, but divergences are more reliable (bullish divergence in green, bearish divergence in red).
First (ascending) triangle, with take profit at the height of the triangle, as well as in the second (descending) triangle, taking profit in the same way.
MACD line crosses over signal line below base line (around -10) indicating possible reversion of downfall price that breaks MA50 upwards with separation of MACD and signal lines, possible entry in long and indicating strong momentum, which in times loses some strength, but never touches MA50, until it breaks downward with a previous MACD/signal line crossover at...
