Regression from pre-pandemic high being tested.
We lost the 12/26 EMA's. It has happened only two other times since March 2019 almost exactly 1 year ago : Sept/Oct 2020.
Will history repeat itself ?
Accumulation/Distribution rising, price falling : sign of underlining strength.
Double bottom on the daily.
Higher than average volume with rising RSI, rising MACD
Weekly RSI close to being oversold
Fibonacci close to 50% retracement
Price below anchored VWAP from the previous lowest low
increasing 200 week EMA
Price at 90 week EMA
I expect TDC to pop on earnings results (ER) tomorrow.
Guidance for the current quarter is lower because of contracts put on hold during the COVID peak.
Since their previous ER, they have a new CEO, with a lot of shares being issued around the 20.5 level.
I expect a lot of their customers to need analytics in order to understanding the changing reality due to...
Left chart is regular hours, right chart is extended hours.
-Broke daily support yesterday and retested but didn't break back above the daily resistance trendline.
-High volume sell-off at closing today, almost back to the VWAP level.
-Stochastic RSI and RSI are overbought on the 15 minutes
Bottom line : Lots of bearish indicators. If the head and shoulders...
If the price fails to break 281.2, we could retest the 50% short term fibonaci level, the 218 low, or break lover to 181.
If the price fails to brea 292 (0.786 retracement from current lows), it would be a repeat of the 2018-2019 crash.
