Neither 3 drives pattern played out today, like I said, not really my favorite TA pattern anyways. Don't really believe in it but the pattern was lining up. It could be that the market tank affected the pattern, who knows.
It does appear to be coiling again, and while it shows positive divergence, I'm expecting the market to gap down tomorrow so it could break downwards pretty easily. Based on charts, I'm revising my add point back to $5, 4.75, and $4.5. Expecting market weakness for another week, so I'm not in a big rush to add.
No longer overbought on intraday charts, still overbought on daily though and it appears to be doing a slow decay, which is typical for a stock that made a huge move. Might add if it stays flat through next week.
It does appear to be coiling again, and while it shows positive divergence, I'm expecting the market to gap down tomorrow so it could break downwards pretty easily. Based on charts, I'm revising my add point back to $5, 4.75, and $4.5. Expecting market weakness for another week, so I'm not in a big rush to add.
No longer overbought on intraday charts, still overbought on daily though and it appears to be doing a slow decay, which is typical for a stock that made a huge move. Might add if it stays flat through next week.