Stop goes under C as a rule and the Target is D
PCAR also formed a V Bottom and got off the bottom quickly. The was caught up in a bearish rising and narrowing wedge which has slowed it down significantly.
Support looks firm for now
V Bottom: Price will usually make a fast and furious move down with little or no pauses. Usually a one day reversal or an island reversal forms pushing it off the bottom and then price rises up in the same fashion it went down in and is usually a mirror image of the leg down. Best to wait 2 o3 days at bottom to be sure the trend changes.
Not a recommendation
PCAR also formed a V Bottom and got off the bottom quickly. The was caught up in a bearish rising and narrowing wedge which has slowed it down significantly.
Support looks firm for now
V Bottom: Price will usually make a fast and furious move down with little or no pauses. Usually a one day reversal or an island reversal forms pushing it off the bottom and then price rises up in the same fashion it went down in and is usually a mirror image of the leg down. Best to wait 2 o3 days at bottom to be sure the trend changes.
Not a recommendation
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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.