This is a methodology that a friend and I have been collaborating on for the last couple of weeks. It combines Wyckoff, S/R, and price action (plus 2 indicators 200 ema and stochastics). Here we go.
1. New swing high on 12/23/14, also showing a divergence between stochastic and price (often a continuation of trend on pullback)
2. Gradual sloping uptrend based on...
We are seeing a double top pattern in formation. There still has to be confirmation for it to be complete. This stock might continue tanking but I would not take my chances. The double top pattern once confirmed is very accurate but without confirmation its pretty risky and the probabilities for failure are high. The stock price is under the 200 SMA for the first...
