Myco has broke its wedge. While it does not necessarily fit the traditional definition I believed the circled area was a bull trap or at least just a result of shorts covering as explained by the low volume (relative) but large move up. It has been announced they will be releasing their telehealth app on sept 30th for mental health, which is an extremely big deal as telehealth is the new trend in medicine and covid resistant type businesses. If you take a look at DOC and WELL those tickers are doing extremely well.
We can very high volume kicking in So I highly doubt the green path will be followed for a retest. The orange path is more likely imo as that extreme volume indicates its a demand candle. it will likely break the larger wedge if we take a look at the other trendline.
We can very high volume kicking in So I highly doubt the green path will be followed for a retest. The orange path is more likely imo as that extreme volume indicates its a demand candle. it will likely break the larger wedge if we take a look at the other trendline.