For those who think the market in general and technology in particular are over valued, one sale candidate may be IBM.
Technically we have reached the first and second objectives of a Harmonic Cypher pattern began in early April.
Secondly a Bearish Wolfe Wave pattern appears to have formed.
RSI is overbought but there is no divergence yet,
If we close several times below $266 (the February triple top) then this may be a confirmation signal.
More confirmation would be a breach of the WW's 1-3 line marked in red.
If this occurs my target would be the $240 area.
Always assess the market and sector direction before entering a position
Do your own due diligence,,, not investment advice.
Good Luck
S.
(Note this is a shorter term chart)
Technically we have reached the first and second objectives of a Harmonic Cypher pattern began in early April.
Secondly a Bearish Wolfe Wave pattern appears to have formed.
RSI is overbought but there is no divergence yet,
If we close several times below $266 (the February triple top) then this may be a confirmation signal.
More confirmation would be a breach of the WW's 1-3 line marked in red.
If this occurs my target would be the $240 area.
Always assess the market and sector direction before entering a position
Do your own due diligence,,, not investment advice.
Good Luck
S.
(Note this is a shorter term chart)
Trade attivo
On our way if you have a profit take 1/3 and wait to re-enter
S
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.