Just sharing a chart for those who care about technicals.
Despite my bullish stance long-term, the setup here is worth noting. The stock has had a strong move off that $2.50 multi-bottom, but it’s now stalling close to the 50 EMA -- which also lines up with the upper trendline of a clear descending triangle.
That descending triangle pattern, by nature, tends to be a continuation to the downside -- not always, but often (~70% of the time). With the Jefferies GHC coming up -- historically a selling event for this name -- I think it’s worth flagging.
FWIW: I don’t just post when things look bullish. I try to stay balanced. Even when I’m long, I’ll call out what I see rather than blindly cheerlead. Might end up being a non-event, but I’d rather acknowledge the setup than ignore it.
Let’s see how things materialize. Cheers and GLTA.
Despite my bullish stance long-term, the setup here is worth noting. The stock has had a strong move off that $2.50 multi-bottom, but it’s now stalling close to the 50 EMA -- which also lines up with the upper trendline of a clear descending triangle.
That descending triangle pattern, by nature, tends to be a continuation to the downside -- not always, but often (~70% of the time). With the Jefferies GHC coming up -- historically a selling event for this name -- I think it’s worth flagging.
FWIW: I don’t just post when things look bullish. I try to stay balanced. Even when I’m long, I’ll call out what I see rather than blindly cheerlead. Might end up being a non-event, but I’d rather acknowledge the setup than ignore it.
Let’s see how things materialize. Cheers and GLTA.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.