All in all, this chart does not look good..lol
moving averages are out of order..the 50 is under the 100.
But a falling wedge can be bullish and can serve as a reversal pattern. At he bottom it is pointed in the direction of the trend, downward. At the top is tilts countertrend. It is a longer formation (at least 3 weeks to form) than a flag, plus it often lacks a flag pole. This formation is just over 15 trading days. Both trendlines point downward and converge at the apex,
Possible H&S top
Just an observation.
NV is high on this one/Negative volume is volume on down days...and is when larger players often buy.
OBV/on balance volume is also high. Short is on the low side
shortsqueeze.com/?symbol=apd...
The market does not form chart patterns, psychology does
moving averages are out of order..the 50 is under the 100.
But a falling wedge can be bullish and can serve as a reversal pattern. At he bottom it is pointed in the direction of the trend, downward. At the top is tilts countertrend. It is a longer formation (at least 3 weeks to form) than a flag, plus it often lacks a flag pole. This formation is just over 15 trading days. Both trendlines point downward and converge at the apex,
Possible H&S top
Just an observation.
NV is high on this one/Negative volume is volume on down days...and is when larger players often buy.
OBV/on balance volume is also high. Short is on the low side
shortsqueeze.com/?symbol=apd...
The market does not form chart patterns, psychology does