SUUUPAAAAA hella fine ass chart. Trying not to get too ahead of myself but - I am for sure lol. Been working on a linear regression scan since, in this market, it's too sketch finding a dip to buy that won't backfire off IV% hikes. Come to (almost) find out how the linear regression curve off some largest % decliners (8 day period) affects the timing of disparity balance but, most interesting part is seeing the similarities in over-extended short plays vs. under-approximated call opportunities. But regardless, definitely saw similarities between BIDU & FDS in this one. Luckily I was able to catch the setup since I was late for BIDU & FDS (short entry + TP played out A1 tho). Starting off w/ the "eehhh" of an Adam & Eve double bottom, finishing off the oversold MFI for a third bottom & another (potential) bounce to test the highs. 45 EMA testing 55(low) MA before surging is (to me), a textbook description of a potential breakout. With price poking @ 20 EMA without making new lows, you might as well add a picture to it too. Idk tho just me you kno
Damn. For some reason when deciding between FDS & WLK, something told me WLK might've had another few days to go just based on the shape of the curve. Like an over-extended handle. LT still bullish, but short term, I'd wait until $105.66 before giving it consideration. This gap down might've delayed the play by a decent time period.