NOVO Down Trend

TREND
The red trend line from 2022 has been broken. It may be doing a pullback for confirmation.
It continues its movement within the orange channel that started in 2024. It may be the 3rd of the 5-wave.
The green trend line from 2021 is the first target before the purple main support.
The purple support formed in 2023 is the strongest level. It is also Fibo 0.618.

MA
20-day (Red), 50-day (Orange) is cutting down from the top.
100-day (Turquoise) has been working as support since November.
200-day (Blue) intersects with the weekly main support (Purple).

SUMMARY
It is in a downtrend in the weekly and a typical reversal pattern is not seen.
It may continue its movement in the direction of the blue arrow.
Harmonic PatternsTrend AnalysisWave Analysis

Pernyataan Penyangkalan