Watching a head and shoulders formation here on the weekly. What’s interesting is the lack of support below the pivot low at 285. If that pivot is tested and doesn’t hold, this thing is a falling knife.
Keep an eye on this for a potential short opportunity.
Keep an eye on this for a potential short opportunity.
Commento:
This played out nicely. About 8% lower from the original post. You could close out here and be happy. For those looking for a bit more, we might see continued weakness down to that pivot low from December near 285.