The stock has perfectly fit into the Bearish Shark Harmonic pattern and also the Parabolic Curve seems to have been achieved.
Now the question is what would be the level it would correct to ?
Based on the Parabolic Curve, It should take support between Base 4 and Base 3 however, if the Bearish Shark pattern lives up to its name then a stronger correction would be expected.
Lets wait and watch.
Now the question is what would be the level it would correct to ?
Based on the Parabolic Curve, It should take support between Base 4 and Base 3 however, if the Bearish Shark pattern lives up to its name then a stronger correction would be expected.
Lets wait and watch.
Note
Today's market has crashed because of China Tensions. This situation is beyond technical analysis. I suggest to book losses and prevent yourself from further unpredictability.No doubt good stocks will recover but the time frame isn't certain. Also if you sit with your cash ,you can reenter at lower levels.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.