PONY Can Go Either Way - Wait for the Break

3 בנוב׳ 2018

Dumped hard from the top of the rising wedge I outlined in my last analysis. Has found some support at one of the previous key demand areas, which coincides with the 78.6% retrace. Looks to have formed a flag now, which can break either way. RSI is near oversold on the daily, but the 4h Stoch is forming a bearish cross. If I had to bet, I'd guess it's going to break down toward the lower support line, but its safer to wait and see how it plays out.