40% rapid descent for United Airlines holding, Inc

12 ธ.ค. 2024

On the above monthly chart price action has enjoyed a 180% upward move. There is evidence in the chart for a strong pivot, which includes:

1) Price action strikes legacy support for resistance test.

2) No market structure backtest to confirm support on breakout. A 40% correction is required to confirm.

3) On the 5 day chart (below) 17! Green candles print until market resistance. This is the strongest rally ever in the history of this stock before a market pivot. Previous to that was the 9 straight green candles on October 2016, which was followed by a 25% correction.

4) Short interest, 4%.. the market is far too bullish.

Is it possible price action continues to rise? Sure.
Is it probable? No.

Ww


5 day

12 ธ.ค. 2024

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12 ก.พ.

บันทึก

High negative divergence now printing.