After a small uptrend in the last week, price has been rejected for the fourth time since October. Accompanied by long wicks to the upside suggesting bulls are losing control, even more confidence with the most recent Shooting Star candle that formed on the daily. Long wicks to the upside on both the weekly and monthly too suggesting a pull back before their expected earnings in late February.
Entry: $7.03
Stop Loss: $7.18
Target: $6.41 - Next level of Fibs and support
R-Multiple: 3.75 - 22% win rate needed to be profitable.
Entry: $7.03
Stop Loss: $7.18
Target: $6.41 - Next level of Fibs and support
R-Multiple: 3.75 - 22% win rate needed to be profitable.