COTI - BIG DESCENDING BROADENING WEDGE

After the big drop on 8th March, Coti has been moving in a downtrend making the Lower High and Lower Low all the while forming a BIG DESCENDING BROADENING WEDGE along with it which normally gives upside breakout. Right now, it has to face the resistance of 200-Day EMA (in green) and if it manages to close above it, in addition, take support over it then we might see it knocking at the doors of final resistance,i.e, the downward trendline of the DESCENDING BROADENING WEDGE and move to higher levels as mentioned on the chart (in green).

However, failure in doing so can reject the price from there back to the lower levels (in red).

Both, resistance and support levels are mentioned in green and red, respectively. DYOR.

Zlecenie aktywne:

Breaking out of the upper downward trendline of the Wedge.

Transakcja zamknięta: osiągnięto wyznaczony cel:

All Targets done