Just sharing a chart for those who care about technicals.
Despite my bullish stance long-term, the setup here is worth noting. The stock has had a strong move off that $2.50 multi-bottom, but it’s now stalling close to the 50 EMA -- which also lines up with the upper trendline of a clear descending triangle.
That descending triangle pattern, by nature, tends to be a continuation to the downside -- not always, but often (~70% of the time). With the Jefferies GHC coming up -- historically a selling event for this name -- I think it’s worth flagging.
FWIW: I don’t just post when things look bullish. I try to stay balanced. Even when I’m long, I’ll call out what I see rather than blindly cheerlead. Might end up being a non-event, but I’d rather acknowledge the setup than ignore it.
Let’s see how things materialize. Cheers and GLTA.
Despite my bullish stance long-term, the setup here is worth noting. The stock has had a strong move off that $2.50 multi-bottom, but it’s now stalling close to the 50 EMA -- which also lines up with the upper trendline of a clear descending triangle.
That descending triangle pattern, by nature, tends to be a continuation to the downside -- not always, but often (~70% of the time). With the Jefferies GHC coming up -- historically a selling event for this name -- I think it’s worth flagging.
FWIW: I don’t just post when things look bullish. I try to stay balanced. Even when I’m long, I’ll call out what I see rather than blindly cheerlead. Might end up being a non-event, but I’d rather acknowledge the setup than ignore it.
Let’s see how things materialize. Cheers and GLTA.
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.