Sell-downs but possible forming of VCP and breakout above 5.43?
BUY
- above 5.00 as long as it's still above the trendline
SELL
- below 4.90 once it breaks the trendline
- huge selling volume might pose more sell-downs
RATIONALE
- the long upper shadow and 5.43 is a great resistance
- however, the stock is still on uptrend albeit a bumpy one with a possible VCP forming
- another two weeks might be needed for a clear indication of a future direction
**the analysis is solely for my own references and learning
- above 5.00 as long as it's still above the trendline
SELL
- below 4.90 once it breaks the trendline
- huge selling volume might pose more sell-downs
RATIONALE
- the long upper shadow and 5.43 is a great resistance
- however, the stock is still on uptrend albeit a bumpy one with a possible VCP forming
- another two weeks might be needed for a clear indication of a future direction
**the analysis is solely for my own references and learning
Comment:
avoid tech as nasdaq is still taking a beating