We're seeing a very similar setup to what we were in 2019. That being a large broadening wedge form. One that has been broken and is now consolidating right above and testing as support at the moment. We seen an impulsive 11% move higher of the break in 2019/20, before the big sell-off:
Saw a similar 10% move on the break out move back in 2018:
10%-11% move now gives us a price target of $400-$405. Nothing rational about the move, but has any of this move been? Ignore the noise. Stop/loss being set on a break of the broadening wedge to the downside.
*NOT Trading Recommendations, always do your own analysis first**
Saw a similar 10% move on the break out move back in 2018:
10%-11% move now gives us a price target of $400-$405. Nothing rational about the move, but has any of this move been? Ignore the noise. Stop/loss being set on a break of the broadening wedge to the downside.
*NOT Trading Recommendations, always do your own analysis first**