๐ฅ ROSE Lost The Macro Uptrend: More Downside Ahead
last month I made an analysis on ROSE and the macro wedge pattern it was trading in. Since making that analysis ROSE saw over +30% gains at some point, but gave it all back during the most recent bearish move.
Sadly, the current bear move has moved ROSE outside of the ascending wedge pattern and under the support. This means that ROSE has lost the bullish trend and is prone to more downside pressure in the short-term.
Next area of support is the area indicated in blue on the chart. Expect some shorts exiting and longs entering the market around there.
Happy trading!
Sadly, the current bear move has moved ROSE outside of the ascending wedge pattern and under the support. This means that ROSE has lost the bullish trend and is prone to more downside pressure in the short-term.
Next area of support is the area indicated in blue on the chart. Expect some shorts exiting and longs entering the market around there.
Happy trading!
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