Get started
gsotolongo

Possible restest to continue down after break of upward wedge

Short
NiSource Inc (NYSE:NI)  
gsotolongo Updated   
NYSE:NI   NiSource Inc
Support and Resistance Trend Lines Wedge gap wedgebreakout retestgap upwardwedge shortsetup 1h
5
0
supportandresistance trendline wedgepattern gap wedgebreakout retestgap upwardwedge shortsetup 1h
At 1D we see a an upward edge that broke the trend line and the support line with a gap. Currently it looks like if it was retesting back to the gap and the resistance line (that used to be support). If it does retest, it would be a nice entry to the short side at the 1H after confirmation.

PS. I already entered the trade a little bit before that and it looks like it is coming back down.
Comment:
NI broke support as soon as the market opened due to the earnings report. It could continue further until the big support at 23.00 where it could bounce back up and continue down.
Comment:
Took all profits
Trade closed: target reached:
Tp reached
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.