GWPH Profit Taking

There are signs of profit taking at the new all time high of GWPH (tails, weak breakouts, reversal attempts). One more push up would form a nested wedge and a larger wedge reversal, increasing the probability of two legs sideways to down. If there is also a buy climax, it would form a parabolic wedge reversal where strong bulls will take windfall profits and strong bears will look to sell. If instead the bears start getting strong follow through with consecutive bear bars closing on their lows, the high will likely already be in. If this becomes the case, prices will begin testing lower, possibly all the way down to the 110 higher bull low and bottom of the large channel / bull flag trading range.

If you found this helpful please like and share! Feel free to comment or ask questions.