Descending wedge

2 lip 2019

This is an updated descending wedge from previous idea, now with more clarity. I am planning on taking 1/3rd position at the 3 green arrows indicated, retest of bottom trend line (if we see a retest), breakout of top trend line, and retest of top trend line from above (if we see a retest). Ideally, I would like to see that 200 MA line up with the bottom trend line and get a strong retest. Target is $13,000.

4 lip 2019

Uwaga

We had an earlier breakout than expected. I took a 1/3rd position on the break and 1/3rd more when we had a successful retest. Since the breakout occurred at 10.8k this moves our target price up to 13.8k (previous high, go figure!)

Also, this wedge may not have been the valid pattern. Looking back I see a descending broadening wedge that had a successful breakout above. This would have a target price of 12.3k so we will watch the action in the area between $12.3-13.8 for signals.