Staples has been trending down for a long time, but a weekly double bottom calls at least for a return to value. The double bottom is confirmed by the blue impulse, and the divergences on the oscillators are perfect.
Going on to the daily chart, a strong candle today, confirming a minor swing low right after the impulse turned blue on the weekly chart. Both the 61.8% and 78.6% retracements on the daily align with the value on the weekly, however considering the long term downtrend, I will take profits just below the 61.8%.
Going on to the daily chart, a strong candle today, confirming a minor swing low right after the impulse turned blue on the weekly chart. Both the 61.8% and 78.6% retracements on the daily align with the value on the weekly, however considering the long term downtrend, I will take profits just below the 61.8%.
