Small gap below price
MCD just fell from a bearish and narrowing rising wedge..it appears to be recovering/average fall for a stronger stock is 35%/some merely pierce the bottom trendline of the RW and move forward. Some never break down from the RW pattern and some actually break up from it/IE CRM
But I would not touch CRM with a ten foot pole unless there is a significant pull back. CRM broke up from the wedge but is possibly trading in a bearish pattern now/A Bearish AB=CD pattern//but just possibly
But this is not about CRM (o:
And RWs can be very long term patterns
RWs are usually bearish and usually have a lack of sufficient pull backs causing an inbalance in supply and demand
I have noticed a lot of RWs since the mkt caught the flu.
I have also noticed a stock in a RW may beat earnings, yet go down anyway. MCD has already pulled back from this bearish wedge
Whether the fall is complete remains to be seen
NV and OBV are high
Just an observation
MCD just fell from a bearish and narrowing rising wedge..it appears to be recovering/average fall for a stronger stock is 35%/some merely pierce the bottom trendline of the RW and move forward. Some never break down from the RW pattern and some actually break up from it/IE CRM
But I would not touch CRM with a ten foot pole unless there is a significant pull back. CRM broke up from the wedge but is possibly trading in a bearish pattern now/A Bearish AB=CD pattern//but just possibly
But this is not about CRM (o:
And RWs can be very long term patterns
RWs are usually bearish and usually have a lack of sufficient pull backs causing an inbalance in supply and demand
I have noticed a lot of RWs since the mkt caught the flu.
I have also noticed a stock in a RW may beat earnings, yet go down anyway. MCD has already pulled back from this bearish wedge
Whether the fall is complete remains to be seen
NV and OBV are high
Just an observation
Note
Possibly a good long term hold if it can survive the rising wedge. Rising wedges show interest due to too much buying. Just too bad rising wedges can be destructive due to irrational exuberance. It is not the stock's fault though )o:
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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.