Rising wedge pattern with RSI bearish divergence & overbought stochastic. A breakdown in price can lead to a $115 price target which is a nice support level & 100% Fibonacci level.
הערה:
We saw the breakdown of the rising wedge pattern on October 23rd & the price was not able to re-enter the wedge the remainder of the week. Still eyeing that $115 price target.
העסקה בוטלה באופן ידני:
Stock price did fall after breaking down out of the rising wedge pattern. I was targeting $115.50 level but price never got down that low. The stock is now oversold & is around 50 on the RSI indicator.
One could take some profits at this point & hold a smaller position to see if it continues moving down but I just closed it out completely in order to put the money into other trades.
One could take some profits at this point & hold a smaller position to see if it continues moving down but I just closed it out completely in order to put the money into other trades.