RYAAY struggled at the highs and now is breaking down, will it be a standard 20% cut and then consolidation? maybe. I want to buy lower because it gives the counterbounce more space before hitting the previous highs.
Timing = 1 ( i think the overall market is in consolidation and overextended selloff are more likely)
Volume = 0 (the volume has been big on this selloff so it has force behind it)
Group strength = 0 (the airlines seem to be weak at the moment, it would make me thing the counterbounce could be weaker then normal)
Entry = 1 (if the stock falls below 90$ within a short time the selloff would be overextended)
Fractal = 1 (Fractal supports a consolidation or breakdown at this time)
Timing = 1 ( i think the overall market is in consolidation and overextended selloff are more likely)
Volume = 0 (the volume has been big on this selloff so it has force behind it)
Group strength = 0 (the airlines seem to be weak at the moment, it would make me thing the counterbounce could be weaker then normal)
Entry = 1 (if the stock falls below 90$ within a short time the selloff would be overextended)
Fractal = 1 (Fractal supports a consolidation or breakdown at this time)