On the chart, there are a couple of developments that I want to point out to draw a bearish scenario:
1. Cutting of trendline with 2 days of heavy volume.
2. MACD turning down below the 0 line and cutting the signal line.
My analysis is based on my Elliott Wave Counts and also on study of a few underlying stocks like AMZN, TSLA, and NVDA (the more obvious bearish technical setup).
1. Cutting of trendline with 2 days of heavy volume.
2. MACD turning down below the 0 line and cutting the signal line.
My analysis is based on my Elliott Wave Counts and also on study of a few underlying stocks like AMZN, TSLA, and NVDA (the more obvious bearish technical setup).
Order cancelled:
I've changed my mind and think that this is going to be a bull scenario instead.
