SONOS to complete 3 wave movement, candidate for a pullback
DISCLAIMER: I currently do not have any positions in SONOS, but I am looking to hop into a short trade prior to the pullback.
The current trend looks like it has some room still to go, however, at the top of the triangle there appears to be two big points of resistance that the stock faces from a historical standpoint.
At the beginning of the current positive trend we started a bear flag that didn't complete, which probably was a mix of positive news, market holiday season, etc. This stock should correct with the rest of the market come early January.
The pullback might not be as severe as this chart might suggest, but the steam on this positive trend looks to be getting a little bit tired.
The current trend looks like it has some room still to go, however, at the top of the triangle there appears to be two big points of resistance that the stock faces from a historical standpoint.
At the beginning of the current positive trend we started a bear flag that didn't complete, which probably was a mix of positive news, market holiday season, etc. This stock should correct with the rest of the market come early January.
The pullback might not be as severe as this chart might suggest, but the steam on this positive trend looks to be getting a little bit tired.
Ordre annulé
Will re-evaluate after the New Year in a few days. Will be looking for a similar chart pattern.
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.
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.