Diagonal trading channel.
Looks like an earnings miss.
The Channel Down pattern is identified when there are two parallel lines, both moving down to the right across respective peaks (upper line) and bottoms (lower line). The upper line is identified first, as running along the lows: it defines the trendline. The lower line (or, the channel line) is identified as parallel to the trendline, running across the first prominent bottom. When in the channel, prices are expected to bounce off both upper and lower boundaries until the channel is broken; the more such reversals occur, the more reliable the pattern.
No recommendation
Looks like an earnings miss.
The Channel Down pattern is identified when there are two parallel lines, both moving down to the right across respective peaks (upper line) and bottoms (lower line). The upper line is identified first, as running along the lows: it defines the trendline. The lower line (or, the channel line) is identified as parallel to the trendline, running across the first prominent bottom. When in the channel, prices are expected to bounce off both upper and lower boundaries until the channel is broken; the more such reversals occur, the more reliable the pattern.
No 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.