IDEA is in oversold range, has developed bullish divergence and is coiling into falling wedge indicating incoming reversal. Whole pattern is similar to AIOZ which also broke diagonal resistance line, created lower low and coiled into falling wedge formation before reversing.
I expect bounce up and breakout of falling wedge formation, leading into push toward fibb 0.886 range.
I expect bounce up and breakout of falling wedge formation, leading into push toward fibb 0.886 range.
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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.