US - Overstock.com - Jul 2021
- nicely forming pennant pattern.
- first 2 summit in PINK could be the Corrective Phase.
- The last smallest summit in BLUE could be the First Wave.
- Second wave is currently at Fibo line 0.618.
- Since DMI+Stock (Daily & Weekly) is going downwards, high probability price will stay just above the support trendline for a while.
- however, the next movement either breaking trendline or breakout, it will be determine by earning outcome.
- if it stays at support trendline, it indicates that initial stage of wave 3(the strongest wave)
- RED resistance line are for reference to exit and re-entry.
"Market is always right"
- first 2 summit in PINK could be the Corrective Phase.
- The last smallest summit in BLUE could be the First Wave.
- Second wave is currently at Fibo line 0.618.
- Since DMI+Stock (Daily & Weekly) is going downwards, high probability price will stay just above the support trendline for a while.
- however, the next movement either breaking trendline or breakout, it will be determine by earning outcome.
- if it stays at support trendline, it indicates that initial stage of wave 3(the strongest wave)
- RED resistance line are for reference to exit and re-entry.
"Market is always right"
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